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NORMIE Meme Coin Exploit Returns $1.1 Million Below $150

A big NORMIE Meme Coin Exploit caused it to lose more than 99% of its value in a single day. This occurred even though the meme coin industry has seen significant gains this month. As a result of this flash loan hack, the market capitalization of this meme currency dropped from $182 million to $110,000 in a matter of minutes.

NORMIE Trader Loses More Than $1 Million

Checkonchain, a supplier of on-chain statistics, reports that the amount of money a trader has invested in $NORMIE has significantly decreased. Starting on March 25 and ending on April 9, the trader paid $1.16 million. To acquire 11.23 million $NORMIE tokens for $0.1035 per token. On the other hand, the value of these holdings has decreased to less than $150 due to the exploitation of this cryptocurrency. Since the purchase, the trader has not sold the tokens but kept them in their possession.

Team Negotiates With the Hacker

The company responsible for Base NORMIE Meme Coin Exploit (NORMIE) is negotiating with a hacker to recover ninety per cent of the cash stolen due to an intelligent contract weakness. This vulnerability caused the token’s market cap to collapse by forty-seven million dollars in three hours. According to reports, Normie has accepted the offer made by the hacker to refund ninety per cent of the stolen NORMIE tokens. The agreement says that Normie will utilize the returned monies and $2.3 million from the team’s development wallet to establish a new token to repay NORMIE holders. This is even though the token’s price has dropped by 96% since the exploit was discovered. The hacker sent A further on-chain message in which they urged no retaliation.

The Normie team responded, “Yes, we will be required to relaunch.” That will happen after we reclaim our primary Twitter account and receive the money from the exploiter, in addition to reiterating their harsh terms. The hacker insisted that a token relaunch must occur before the funds could be returned. It was in March of 2024 when the meme coin known as relaunch was first introduced into existence. According to the developers of the blockchain fraud detection tool Quick Intel, Around 72,000 holders. NORMIE was impacted by the smart contract vulnerability discovered for the first time in March.

Investor’s $1.16 Million Drops to $150

A significant investment made by an investor in NORMIE Meme Coin Exploit was significantly reduced. As stated by Lookonchain, a source of on-chain data. Between March 25 and April 9, the investor spent $1.16 million to acquire 11.23 million NORMIE tokens for $0.1035 each. However, due to the hack, the value of these assets has dropped below $150.Take advantage of COINTURK FINANCE. To stay current on the most recent business and financial news. Even though the investor had purchased the tokens, they did not sell them, resulting in a significant economic loss.

Ali Raza

Ali Raza is an experienced freelance content writer. His focus is primarily on aster-crypto and btccoinzone. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Ali Raza is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Ali Raza enjoys traveling, reading, and playing cricket when not writing. He now works as a news and article writer for Astercrypto.

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