Binance Temporarily Suspends Deposits In This Altcoin: A Delist Herald?

world’s largest cryptocurrency exchange Binance, in a statement on its official Twitter account. In the Tornado Cash (TORN) altcoin announced that deposits have been temporarily suspended.

As Bitcoinsistemi.com reported, the TORN altcoin had suffered a major hacker attack yesterday and the platform’s management system was actually in the hands of the hacker. After that, the hacker made a lot of sales from the TORN tokens he seized.

However, the user pools on the Tornado Cash platform are still not in the hands of the hacker and are said to be safe.

In the statement made by Binance on its official Twitter account, the temporary suspension of deposits was announced as follows:

“Due to the circumstances surrounding this protocol, Binance will temporarily suspend TORN deposits until further notice.”

Due to circumstances surrounding the protocol, #Binance will temporarily pause $TORN deposits until further notice.

— Binance (@binance) May 21, 2023

Due to the fact that the exchange made this statement and the hacking event in the current situation, some users claimed that it was a delist herald. It was also observed that there was a sudden decrease in the TORN price after the announcement of the company.

The Tornado Cash attacker obtained a total of 483,000 TORNs from the Tornado Cash management vault and deposited 6,000 TORNs in Bitrue; sold 379,300 TORN on chain and exchanged it for 375 ETH (approximately US$680,000).

*Not investment advice.