thenewscrypto.com
- Binance has temporarily paused the TORN deposits.
- The exchange has decided to move Tornado Cash into the Innovation Zone.
Binance, the world’s largest crypto exchange, has announced that the exchange has resumed deposits for TORN on the Ethereum and BNB Smart Chain networks.
Recently, Tornado Cash (TORN) has witnessed a massive attack. The attacker managed to take full control of the governance through a malicious proposal. Taking control of the Tronado governance allows attackers to withdraw all of the locked votes. The attack resulted in the crypto exchange Binance temporarily pausing Tron deposits. Due to the circumstances surrounding the protocol on May 21.
#Binance has resumed deposits for $TORN on the Ethereum and BNB Smart Chain networks.
— Binance (@binance) May 29, 2023
In addition, we have decided to move TORN into the Innovation Zone by May 30, 2023.
More details here ➡️ https://t.co/OOQQwmcERs https://t.co/T5MwYFTIf7
Following that, on May 29, the exchange announced the resumption of TORN deposits on the Ethereum and BNB Smart Chain networks. Moreover, adding to that, Binance has decided to move the Tornado Cash into the Innovation Zone by May 30.
After TORN witnessed the huge blow of the attack, Binance’s move to add Tornado Cash to the Innovative Zone will be a greater advantage for the cryptocurrency. The move will be expected to help TORN recover from the attack.
At the time of writing, the trading price of Tornado Cash is around $4.16, with a decline of over 1.01% in the last 24 hours. The trading volume of the TORN has witnessed a massive increase of 79.36%, according to CoinMarketCap.