Did Normie on the base chain just get rugged? Well, from what we know for now, it seems that the NORMIE token faced a significant exploit. With the exploiter outing himself on Twitter and perhaps proposing a refunding mission if the devs react positively. Never a dull day in crypto.
Did NORMIE Got Exploited or Was it Rugged?
What meme coin enthusiasts saw today was that Normie was 99.6% depleted. Many people lost their holdings and are significantly wrecked. What happened, as we know now, is that the NORMIE token was compromised.
A trader who had invested $1.16 million to purchase 11.23 million $NORMIE tokens between March 25 and April 9 found that the value of these tokens plummeted to less than $150. The tokens were initially purchased at a rate of $0.1035 per token.
What Was the Exploiter’s Message to Normie Deployer?
The token was compromised by an exploiter that did something remarkable. Well, following the exploit, the individual responsible for the attack communicated with the Normie Deployer (the developers of Normie).
The attacker proposed a deal where they would return 90% of the exploited Ethereum (ETH), under the condition that these funds, along with an additional 600 ETH from the developer’s wallet, would be used to launch a new token. This new token would be aimed at reimbursing NORMIE holders for their losses.
How Did the Normie Developers Respond to the Exploit?
The developers accepted the exploiter’s terms. They agreed to the exploiter keeping 10% of the stolen ETH, with no reprisals. The developers committed all the ETH in their possession to rectify the situation and aid in the relaunch of a new token aimed at compensating the affected NORMIE holders. Is this a black hat hacker or grey hat as some commented on Twitter?
What is Normie Meme Coin?
Normie was one of the first big memecoins on Base, where the daily meme content created by the Normie coin team was of an extremely high production quality and got their efforts rewarded with decent liquidity and some backing from ‘influential’ people.
Will Normie Recover and Where to Buy?
Will Normie recover or is it dead for good? Well, the amount of wrecked holders will be affecting the price recovery of the coin. If there is going to be a refund, the coin will probably relaunch and holders will be compensated with new tokens.
For speculators, you can buy Normie on HTX. But beware of volatility and see this as catching a falling knife which is dangerous and risky. Also beware of phishers urging you to refund your holdings.
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