Normei Memecoin Plummets 99% in Massive Exploit

The post Normei Memecoin Plummets 99% in Massive Exploit appeared first on Coinpedia Fintech News

Memecoin Normei has witnessed a major exploit as it lost more than 99% of its value in a single day, amidst which the market cap of the memecoin plummeted from $182 million to $110k within minutes. A trader acquired 11.23 million NORMIE by spending $1.16 million, now valued at less than $150. Normie has reportedly agreed to the hacker’s offer to return 90% of the stolen funds due to a smart contract vulnerability. As per the agreement, Normie will use the returned funds and $2.3 million from its development wallet to launch a new token to compensate NORMIE holders.