Normie Meme Coin Market Cap Falls 99% After Exploit

Sunday, 26 May 2024, 22:08

Normie Meme Coin faced a severe exploit causing a 99% plummet in its token value affecting holders. The attacker proposed to return 90% of the stolen funds upon relaunching, accepted by Normie's team. The project's market capitalization witnessed a drastic drop from $41 million to around $1.3 million.

https://store.livarava.com/331fbc47-1bad-11ef-a3da-9d5fa15a64d8.png — Normie Meme Coin Market Cap Falls 99% After Exploit

Normie Meme Coin Market Cap Plunges by 99%

Normie, a meme coin on Ethereum's Layer 2 network Base, was exploited leading to a flash loan attack and a subsequent sharp decline in the token value and market cap.

Response to the Exploit

The team accepted the attacker's offer to return 90% of the stolen assets and announced a new token launch for affected holders.
The development wallet was committed to the recovery effort, holding about 736 ETH currently.

Normie's token holders expressed significant losses, while crypto exchange LBank noted unusual token deposits related to the exploit.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Normie Meme Coin Market Cap Plunges by 99%

Response to the Exploit

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