According to BlockBeats, on May 26, the Base Ecosystem Meme Coin NORMIE experienced a sharp drop in price by 87.6% due to a flash loan attack, as shown by CoinGecko market data. The attacker exploited the remaining 0.63% of the token supply in the contract, repeatedly buying and selling after disabling the tax, triggering the contract to automatically dump tokens exceeding 1% when the tax reached 1%. The entire attack was completed in a single transaction, resulting in a large number of tokens being dumped.
Subsequently, the attacker bought a large amount of tokens at a price of zero within the same block, reaping substantial profits. Notably, the project side also gained considerable benefits from the tax dump, having sufficient funds to buy back tokens.
