Normie Memecoin Project Removes Intern Over Offensive Video, Issues Apology
Normie, a memecoin project operating on Coinbase’s Base blockchain, took down a controversial video shared on its official X account by terminating the intern responsible for its creation on June 10.
The video, which featured a blue-skinned cartoon chef with exaggerated lips dancing, received widespread backlash from the crypto community.
Normie issued an apology for the video, stating that the intended message was to promote the idea that positive change starts from within, but admitted that the execution inadvertently touched on a sensitive subject.
In response to Normie’s apology, a user questioned the decision to solely blame the intern for the video, suggesting that the team should take responsibility for approving it.
NORMIE Memecoin Experiences Significant Drop After Flash Loan Attack on Base Blockchain
NORMIE’s market cap reached $130 million on April 2, but plummeted by over 99% on May 26 following a flash loan attack that exploited a vulnerability in the project’s contract tax mechanism.
The attacker borrowed a large sum of cryptocurrency without collateral, manipulated the token supply, and repaid the loan in the same transaction.
After the attack, the Normie team announced that the hacker had contacted them and agreed to return 90% of the stolen funds. They accepted the terms and used the returned assets along with $2.3 million from their development wallet to launch a new token to compensate NORMIE holders.
Despite the resolution, NORMIE’s price dropped by 96% post-exploit.
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