The governance tokenholders of Twister Money will quickly regain keep watch over over the protocol’s operations, due to an surprising proposal put ahead by means of the attacker. This building permits the neighborhood to regain authority and steer the protocol towards restoration and stepped forward security features.
On Would possibly 26, the proposal to revive keep watch over to the unique governance tokenholders of Twister Money handed effectively. A complete of 517,000 token votes liked the proposal, without any opposing it. This solution brings a swift conclusion to a governance takeover that, thankfully, didn’t affect the protocol itself, however did result in the robbery of explicit governance tokens.
Via effectively orchestrating a takeover of the protocol’s governance machine, the attacker maneuvered a malicious proposal that granted them 1.2 million votes. Leveraging this crucial vote casting energy, they handed further proposals, in the long run seizing keep watch over over prior to now vested governance tokens. Their ways allowed them to govern the governance construction, leading to a switch of authority of their choose.
In a shocking flip of occasions, only some hours after the hack, the attacker impulsively contacted the Twister Money neighborhood, presenting an offer purportedly geared toward restoring governance keep watch over. This surprising gesture shocked many, elevating interest and prompting additional scrutiny of the attacker’s intentions and motivations.
As reported by means of Martin Lee, a knowledge journalist from the crypto analytics website online Nansen, the attacker controlled to thieve 483,000 Twister Money (TORN) tokens. Therefore, they performed a sequence of swaps, changing nearly all of the stolen tokens into 485 Ether (ETH), value roughly $890,000. This strategic maneuver left them with 39,000 TORN, valued at round $160,000. To obfuscate the beginning of the price range, a portion of the ETH used to be cleverly routed via Twister Money, including an extra layer of anonymity to the transaction.
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Twister Money, the Ethereum blockchain-based crypto blending provider, used to be embroiled in controversy when it used to be formally sanctioned by means of the US Treasury in August 2022. The sanctions stemmed from allegations that the protocol have been used for cash laundering.
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