Hackers hijack crypto transaction masking service

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Tornado Cash, a service that allows users to mask cryptocurrency transactions, suffered a hostile takeover by hackers through a malicious governance proposal.

Tornado Cash is a blockchain protocol and TORN, its governance token, enables holders to vote on proposed changes in the service.

Soon after the news of the exploit, crypto exchange Binance said that it would temporarily pause deposits of TORN.Its price is down by over a third to about $4.56 compared with an intraday high on Saturday, according to CoinGecko data.

 

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