{"id":21315,"date":"2024-05-26T18:30:34","date_gmt":"2024-05-26T15:30:34","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21315"},"modified":"2024-05-26T16:50:12","modified_gmt":"2024-05-26T13:50:12","slug":"popular-memecoin-attacked-price-drops-99","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/popular-memecoin-attacked-price-drops-99\/","title":{"rendered":"Popular Memecoin Attacked, Price Drops 99%!"},"content":{"rendered":"

Popular memecoin Normie has seen its price plummet by over 99% after falling victim to a flash loan attack. Here are the details.<\/p>\n

A memecoin named Normie has been subjected to a severe attack that caused its price to drop by over 99% in just a minute.<\/p>\n

The token’s market capitalization, in a shocking turn of events, plunged from a staggering $40 million to around $170,000.<\/p>\n

\"\"<\/p>\n

Normie’s supply was significantly inflated by the attacker exploiting a vulnerability in the token contract’s tax mechanism to execute a flash loan attack. This type of attack involves borrowing a large amount of cryptocurrency<\/a> and using it to manipulate the market before repaying the loan within the same transaction.<\/p>\n

Trading at $0.042 before the attack, Normie’s price has nosedived by 99.54% as of this writing, hovering around $0.0001812.<\/p>\n

However, the token was not listed on any major centralized exchanges. It was only trading on Justin Sun’s crypto exchange HTX and decentralized exchanges. The token experienced a staggering 24-hour trading volume of $41.3 million due to the attack.<\/p>\n

Normie was operating on Coinbase’s layer-2 solution Base.<\/p>\n","protected":false},"excerpt":{"rendered":"

Popular memecoin Normie has seen its price plummet by over 99% after falling victim to a flash loan attack. Here are the details. A memecoin named Normie has been subjected to a severe attack that caused its price to drop by over 99% in just a minute. The token’s market capitalization, in a shocking turn<\/p>\n","protected":false},"author":1,"featured_media":16191,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[965,58,6337,1332,6336,5600],"class_list":["post-21315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-base","tag-cryptocurrency","tag-flash-loan-attack","tag-memecoin","tag-normie","tag-price-drop"],"yoast_head":"\nPopular Memecoin Attacked, Price Drops 99%! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Popular memecoin Normie has seen its price plummet by over 99% after falling victim to a flash loan attack. 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