A group of pro-crypto organizations has filed an amicus brief in support of a lawsuit challenging the legality of sanctions imposed on the decentralized finance (DeFi) protocol Tornado Cash. The amicus brief, filed by the Blockchain Association, the DeFi Education Fund, and Coin Center, argues that the sanctions imposed by the Treasury Department’s Office of Foreign Assets Control (OFAC) are unlawful. The OFAC imposed sanctions on Tornado Cash in February, alleging that it was being used by criminals to launder money. However, the pro-crypto groups argue that the sanctions are unprecedented and violate the First Amendment right to free speech.
Tornado Cash’s (TORN) token has risen by 10% after an attacker submitted a proposal to undo the attack that drained $80 million worth of ETH from the protocol. The attack took place on May 17, when an attacker exploited a vulnerability in Tornado Cash’s smart contracts to drain 800,000 ETH from the protocol. The attacker then used the ETH to purchase TORN tokens, which caused the price of the token to plummet. In the wake of the attack, the Tornado Cash team has been working to fix the vulnerability and restore the funds to the affected users. The team has
The price of TORN, the native token of the Tornado Cash privacy protocol, plummeted by more than 50% on May 20 after an attacker exploited a vulnerability in the protocol’s governance contract to drain over $2 million worth of TORN tokens. The attacker was able to exploit the vulnerability by submitting a malicious proposal to the Tornado Cash governance contract that allowed them to withdraw all of the TORN tokens that had been staked in the contract. The Tornado Cash team has since patched the vulnerability and is working to recover the stolen TORN tokens. However, it is unclear if