Tornado Cash (TORN) Suffers 27% Drop As Hackers Strike

Tornado Cash (TORN) Suffers 27% Drop As Hackers Strike

Tornado Cash (TORN) has experienced a sudden fall in its market price over the last few hours following news of the DeFi protocol suffering a crypto exploit late yesterday. According to data from CoinMarketCap, Tornado Cash is down 28.25% in the last 24 hours, albeit this only represents a retraced value.

Following news of TORN’s attack, the token initially dropped by over 60% before finding support around the price region of $3.86. Since then, TORN has made some upward movement, however not sufficient to cover up the earlier loss.

TORN Governance System Breached: $2M Stolen

Trending: Dozens Of Children Go Missing In Cleveland In Just Two Weeks In Disturbing Trend

Through a malicious governance proposal, a hacker gained control of Tornado’s Cash Governance, allocating 1,200,000 votes to themselves.

According to Chinese reporter Colin Wu, the hacker used their newly gained

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