Crypto News

Normie Memecoin Crashes After Devastating Attack, Losing 99% Of Its Value

In a dramatic turn of events, the memecoin market witnessed a significant setback as Normie (NORMIE) fell victim to a severe exploit that wiped out nearly 99% of its value in just one day.

Following the attack, NORMIE’s market capitalization plummeted to a mere $2,700 at press time, causing panic among its holders and investors.

The attack had a devastating impact on a particular trader who had invested heavily in the token.

This trader had spent $1.16 million to acquire 11.23 million NORMIE tokens at an average price of $0.1035 between March 25 and April 9. Unfortunately, after the exploit, the value of these tokens dropped drastically to less than $150, representing a massive financial loss.

Attacker Makes Unusual Proposal To The Developer

In a bid to address the fallout from the exploit, the attacker sent a message to the Normie Deployer with an unusual proposition.

The attacker offered to return 90% of the stolen ETH on the condition that it, along with the 600 ETH currently held in the developer’s wallet, be used to fairly launch a new token aimed at reimbursing the affected NORMIE holders.

This proposal has sparked a mix of reactions within the cryptocurrency community. Some see it as a chance for restitution and recovery, while others are wary of the attacker’s motives and the feasibility of such a plan.

The situation highlights the vulnerabilities and risks inherent in the burgeoning and often volatile memecoin market.

As the Normie team and its community grapple with the aftermath of this exploit, the broader crypto market is reminded of the importance of security and due diligence in safeguarding digital assets.

The coming days will be crucial in determining the fate of NORMIE and whether the proposed solution can provide any relief to its beleaguered investors.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: serezniy/123RF // Image Effects by Colorcinch

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