Binance suspends $Torn deposit following the attack news on Tornado Cash governance vault

A hacker attacked the Tornado Cash governance vault & secured nearly 483,000 Torn tokens. 

Tornado Cash is a popular Ethereum blockchain powered crypto mixingxing platform. Torn is the native token of the Tornado Cash platform. In 2022, The US OFAC body imposed sanctions on this platform for American citizens & also detained one of the developers of this platform. 

On 20 May 2023, A hacker attacked the Tornado Cash governance system via a malicious proposal. 

Through this hack attack, hacker(s) successfully hijacked the Tornado Cash governance system. With this hack attack, the hacker grabbed nearly 483,000 Torn tokens. 

So far, the attacker sold 379,300 TORN for 375 ETH & also tried to sell on other centralized exchanges like Bitrue, etc. 

By taking these illegal & suspicious activities under consideration, the Binance crypto exchange suspended Torn token deposit. So that hackers can’t use the Binance platform to sell their stolen funds. 

Huobi exchange’s senior advisor Justin Sun confirmed that Torn token deposit on the Huobi exchange will remain active but the team will monitor the whole situation to tackle the potential impact because of the attack.

Because of this news, the price of Torn token plunged by nearly 28% within a few hours. 

Read Also: Instagram planning to launch a Twitter-like decentralized social text platform 

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.