2024

Normie

NORMIE

Base

<p>After a 100% plunge in the price of NORMIE following a smart contract exploit, the Normie memecoin team mulls negotiating with the accused hacker, in order to recover 90% of the stolen funds, causing a $41.7 million drop in market cap in under three hours.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The <a href="https://twitter.com/search?q=%24NORMIE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$NORMIE</a> exploiter sent a message to Normie Deployer.<br><br>The condition for returning 90% of the exploited ETH is that it and the 600 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a> in the developer's wallet are used to fairly launch a new token to reimburse <a href="https://twitter.com/search?q=%24NORMIE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$NORMIE</a> holders.<a href="https://t.co/vmrXdgFMa2" target="_blank">https://t.co/vmrXdgFMa2</a> <a href="https://t.co/L7UkVbxZOe" target="_blank">pic.twitter.com/L7UkVbxZOe</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1794680619177521537?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 26, 2024</a>
  </blockquote> 
 </div>
</figure> 
<p>Lookonchain, a blockchain analytics firm, detected the exploit and the hacker’s proposal. Normie agreed to the hacker’s terms, intending to reimburse NORMIE holders by launching a new token utilizing the stolen funds and their dev wallet.&nbsp;</p> 
<p>The hacker, requesting no retaliation, insists on a token relaunch before returning the funds. However, the timeline for fund recovery remains uncertain. NORMIE’s value plummeted by 100%, reaching $0.000002529 from a peak of $0.06839, affecting 72,000 token holders, according to <a href="https://coinmarketcap.com/currencies/normiebase/" target="_blank" rel="noreferrer noopener nofollow">Coinmarketcap</a> data.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="999" height="392" src="https://www.cryptotimes.io/wp-content/uploads/2024/05/NORMIE-Team-Mulls-Hacker-Demands-After-Token-100-Price-Fall.png" alt="NORMIE Price Chart" class="wp-image-179323" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/05/NORMIE-Team-Mulls-Hacker-Demands-After-Token-100-Price-Fall.png 999w, https://www.cryptotimes.io/wp-content/uploads/2024/05/NORMIE-Team-Mulls-Hacker-Demands-After-Token-100-Price-Fall-800x314.png 800w, https://www.cryptotimes.io/wp-content/uploads/2024/05/NORMIE-Team-Mulls-Hacker-Demands-After-Token-100-Price-Fall-768x301.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/05/NORMIE-Team-Mulls-Hacker-Demands-After-Token-100-Price-Fall-860x337.png 860w" sizes="(max-width: 999px) 100vw, 999px">
  <figcaption class="wp-element-caption">
   NORMIE Price Chart | Source: CoinMarketCap
  </figcaption>
 </figure>
</div> 
<p>The incident underscores the vulnerability of Base memecoins, with 91% found to have exploitable flaws. Normie, launched during a memecoin frenzy, peaked at a market cap of $130 million in April.&nbsp;</p> 
<p>Normie’s decision to negotiate with the hacker to recover stolen funds reflects a proactive approach to mitigate losses and restore trust in the project. However, such attacks reflects poorly on the safety measures of Base memecoins and is likely to deter investors.</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>Also Read: <a href="https://www.cryptotimes.io/2024/05/22/pepe-surges-28-hits-new-high-as-eth-rises-on-etf-approval/" target="_blank" rel="noreferrer noopener">PEPE Surges 28% Hits New High as ETH Rises on ETF Approval+</a></p> 
</blockquote>

NORMIE Team Mulls Hacker Demands After 100% Price Fall

The Crypto Times

المزيد من المقالات نُشرت في ٢٧ مايو ٢٠٢٤

How Can the Seoul Declaration Redirect AI Development Towards Public Interest

Pepe Coin Hits New All-Time High, Frog-Inspired Meme Coin Flips Polygon (MATIC) in Market Cap

Kickstarting The Bitcoin Bull Run: Expert Says $70,000 Is The Level To Beat

Ethereum Gains Drive Investor Optimism

Internet Computer (ICP) AI Demo To Feature Facial Recognition

Crypto Boy on the Lookout for the Next Presale Gem in Solana – Could $SEAL Be the Next $SLOTH?

انضم إلى مجلتنا الإخبارية المجانية لآخر تحديثات مجال العملات المشفرة يوميًا.