The Normie Memecoin Plummets 99% After Devastating Smart Contract Exploit
The price of Normie (NORMIE) , a memecoin on Ethereum’s Layer 2 Base network , plummeted by 99% within hours following a deva stating smart contract exploit. The incident temporarily gutted Normie’s market cap from nearly $42 million to just $200,000, leaving the team scrambling to negotiate with the hacker and devise a recovery plan for affected token holders. The Devastating Exploit How $NORMIE got exploited and went from $40m MC to $100k MC within 1 minute, who else is effected, and what the @NormieBase team can do to fix this situation: 1. The exploiter's wallet was funded by secret network 2. The Normie contact had a premarket user map that bypasses… pic.twitter.com/SuTqTlJf4W — Golden Degen (@0xGoldenDegen) May 26, 2024 On May 26, a hacker exploited a vulnerability in Normie’s contract tax mechanism through a flash loan attack. This allowed them to drastically inflate the token supply, causing the token’s value to crash. The exploit h...