Crypto News – The Dark Side of Memecoin Trading: Normie Memecoin Exploit

Crypto News – Memecoin Market Alert: Beware of Normie Memecoin Exploit

Crypto News – After the Normie memecoin exploit, an unlucky trader lost more than $1 million in digital assets. As per a Lookonchain post on May 26, the memecoin dealer invested over $1.16 million to purchase 11.23 million Normie (NORMIE) memecoins, however his initial investment decreased by almost 99% to a mere $150.

He spent $1.16M to buy 11.23M $NORMIE at $0.1035 from Mar 25 to Apr 9 and has held it until now without selling it.

Lookonchain

Hackers Offer a Condition for Returning Stolen Funds

According to reports earlier on May 27, the hacker‘s offer to refund 90% of the NORMIE tokens that were taken was accepted by the Normie team. This deal required Normie to establish a new coin to compensate NORMIE holders, utilizing the returned funds and an additional $2.3 million from the team’s development wallet. According to a blockchain message from the exploiter that Lookonchain was able to view, the hacker has insisted that the token launch take place before they refund the funds that were taken.

The dev wallet made significantly more than I did during this exploit, and I have no other way to ensure that those funds are used appropriately.

The Hacker

Following the hacker’s offer, X experienced a deluge of phony Normie postings purporting to be an announcement of the new token’s launching. The purpose of these posts was to trick readers into clicking on phony links.

FAQ

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