Normie

Memecoin

Million

Pepe

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investor-loses-over-1-million-in-normie-memecoin-attack/" data-wpel-link="internal">Investor Loses Over $1 Million in Normie Memecoin Attack</a><br></p>
<p class="p1" style="text-align: justify">An unfortunate investor lost over $1 million in crypto assets following an attack on the <a href="https://en.coin-turk.com/shiba-inu-prepares-for-new-developments-shibarium-on-the-horizon/" data-wpel-link="internal">memecoin</a> project Normie. The memecoin investor spent over $1.16 million to purchase 11.23 million Normie (NORMIE) memecoins, but according to Lookonchain’s May 26 post, the initial investment plummeted by over 99% to just $150.</p> 
<h2 class="p1" style="text-align: justify" id="what-happened-in-the-normie-attack">What Happened in the Normie Attack?</h2> 
<p class="p1" style="text-align: justify">Normie is a memecoin project on the Base network that suffered a smart contract attack exceeding $41.7 million in market value within just three hours. Lookonchain was the first platform to highlight this attack in its May 26 post.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-356238 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/trader-scaled.jpg" alt="" width="2560" height="1189"></p> 
<p class="p1" style="text-align: justify">According to CoinGecko data, Normie’s value dropped by over 96% following the attack, hitting a market cap low of around $200,000 before a small recovery began.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-356237 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/normie.webp" alt="" width="1644" height="1200"></p> 
<p class="p1" style="text-align: justify">Early on May 27, it was reported that the Normie team accepted the hacker’s offer to return 90% of the stolen NORMIE tokens. This agreement depends on using the returned funds and the team’s development wallet of $2.3 million to launch a new token to reimburse NORMIE holders. The hacker demanded that the token launch occur before returning the stolen funds, as stated in the attacker’s blockchain message seen by Lookonchain:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“The developer wallet earned much more than I did during this attack, and there is no other way to ensure these funds are used properly.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-356236" src="https://coin-turk.com/wp-content/uploads/2024/05/lookonchain.webp" alt="" width="500" height="474"></p> 
<p class="p1" style="text-align: justify">According to a May 26 post by blockchain <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data analysis</a> firm Quick Intel, the smart contract attack first detected in March affected over 72,000 Normie holders.</p> 
<h2 class="p1" style="text-align: justify" id="memecoin-hype-continues">Memecoin Hype Continues</h2> 
<p class="p1" style="text-align: justify">Despite the unfortunate event, memecoin <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> continue to buy animal-themed cryptocurrencies. According to CoinMarketCap data, frog-themed memecoin Pepe reached an all-time high of $0.00001718 on May 27, following a rise of over 75% last week.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-356235 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/pepe-3.webp" alt="" width="1737" height="744"></p> 
<p class="p1" style="text-align: justify">Memecoin projects are among the most volatile crypto assets because they lack intrinsic utility. Despite the inherent risks, some investors navigate this high-risk market segment successfully, earning millions. Two weeks ago, a savvy Pepe investor turned $3,000 into $46 million through memecoin trading. The return of the GameStop legend supported Pepe’s price, and the investor achieved a return 15,718 times their initial investment.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investor-loses-over-1-million-in-normie-memecoin-attack/" data-wpel-link="internal">Investor Loses Over $1 Million in Normie Memecoin Attack</a></h5>

Investor Loses Over $1 Million in Normie Memecoin Attack

Зміст

COINTURK NEWS

Інші статті, опубліковані 27 трав. 2024 р.

Is Parallel EVM the Solution for Ethereum Scaling?

‘Hacker’ identified in celebrity memecoin scams, says crypto sleuth Roxo

Top 3 Altcoins with the Potential for a 50x Return

Wave of Crypto Hacks and Exploits Hits Influencers and Memecoins: WATCH OUT!

Top 3 Altcoins for Massive Returns

Dogeverse and Sloth Investors are Going Gaga Over MoonBag, the Top Crypto Presale

Приєднуйтеся до нашої безкоштовної розсилки для отримання щоденних оновлень щодо крипто!