The price of NORMIE sunk 99% in less than three hours after a smart contract exploit, temporarily gutting its market cap from nearly $42 million to $200,000.
The team behind Base memecoin Normie (NORMIE) says it is negotiating with its hacker to return 90% of funds stolen due to a smart contract vulnerability — leading to a $41.7 million plunge in the token’s market cap in less than three hours.
Blockchain analytics firm Lookonchain was one of the first to spot the exploit and the hacker’s offer in an on-chain message to Normie’s deployer address on May 26.
Normie later reportedly accepted the hacker’s offer to get 90% of the stolen NORMIE tokens back — though the price has already fallen 96% since the exploit — on the condition Normie uses the stolen funds and the $2.3 million in the team’s dev wallet to launch a new token to reimburse NORMIE holders.
