Normie, a Base #Meme Coin Just Got Exploited Yesterday
Was one of the most promising projects on Base, the exploitation of Normie yesterday just raised a really big question for the crypto community. Are there any visible boundaries of the market?
Normie has been always considered an active community under the lead of a dedicated team. But after the incident, the community was wondering if it was a legit exploitation or a planned rug pull.
All of the social media channels of Normie are suspended, except for the website, the market cap is now ~$2k, and currently, there is no sign of an update.
According to technical analysts, the exploitation was done due to the poorly designed contract, using a flash loan attack. The attack was done in just 1 single transaction, resulting in a large number of tokens being dumped.
The exploiter offered to return 90% of the exploited funds, totaling $500K, under the condition that the funds, along with $600K from the developer's wallet, be used to launch a new token for reimbursing $NORMIE holders.
