⚠️⚠️ From $1.6 Million to $150 in Seconds: Normie Meme Coin Plummets in Exploit Fallout 📢
Normie, a meme coin in the Base Ecosystem, experienced a significant dump of 99% after being hit by an exploit.
Attackers manipulated the token's total supply, draining its liquidity pools. The attackers exploited a tax function in the token's contract, issuing more tokens than the intended 1 billion supply and trading them for ether.
The attacker offered to return 90% of the stolen funds back to the Normie developers if they agreed to relaunch the project. Normie developers accepted the bounty offer as of early Monday.
The exploit caused Normie's market capitalization to plummet from over $40 million to just $700. One investor reportedly faced a massive loss, with their $1.6 million investment turning to just $150 in seconds. Normie's trading was suspended following the exploit.
