Base Ecosystem Meme key points from the text:
- *Flash loan attack*: Base Ecosystem Meme Coin NORMIE suffered a flash loan attack on May 26.
- *Price drop*: The attack caused a sharp 87.6% drop in NORMIE's price.
- *Exploited token supply*: The attacker exploited the remaining 0.63% of the token supply in the contract.
- *Tax disable and dump*: The attacker repeatedly bought and sold tokens after disabling the tax, triggering the contract to automatically dump tokens exceeding 1% when the tax reached 1%.
- *Single transaction*: The entire attack was completed in a single transaction.
- *Token dump and buyback*: A large number of tokens were dumped, and the attacker bought a large amount of tokens at a price of zero within the same block, reaping substantial profits.
- *Project benefits*: The project side also gained considerable benefits from the tax dump, having sufficient funds to buy back tokens.
#bonk
#wif
#shib