❌️ Quite simply, this is what happened to the Normie coin❌️
❌️#normiecoin witnessed a complete collapse of its value due to smart contract exploitation. This incident temporarily reduced the market value from $42 million to $200,000. Then it collapsed completely; The developers of the meme coinbase are currently negotiating with the person responsible for the exploit to recover 90% of the stolen funds.
❌️ Blockchain analytics company Lookonchain was the first to detect the exploit and expose the hackers. The hacker sent a message to Normie Deployer, proposing to return 90% of the exploited ETH on the condition that it be used, along with 600 ETH in the developer's wallet, to launch a new token to compensate NORMIE holders. The hacker also suggested keeping the remaining 10% of the stolen NORMIE tokens as a bug bounty without any repercussions.
❌️ The Normie team confirmed the need to relaunch the token via a newly created account after the main account was suspended. However, this temporary account was also suspended shortly after. The hacker remained firm on his terms, insisting that the token must be relaunched before the funds could be returned.
❌️ Quick Intel reported that the exploit affected 72,000 NORMIE holders. Lookonchain also revealed that an anonymous trader who invested $1.16 million to acquire 11.23 million NORMIE tokens during the cryptocurrency's peak is now facing a huge loss. Their initial investment is now worth less than $150.
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