NORMIE Token (NORM) Exploited: MAGA Investor Sees Massive Gains Amid Crypto Turmoil

<ul>
  <li>A NORMIE exploit caused a trader’s $1.16M investment to plummet to less than $150, highlighting high crypto risks.</li>
  <li>Another trader gained $2.7M from MAGA tokens, achieving a remarkable 505% ROI by selling 1.5 billion tokens in three days.</li>
  <li>NORMIE’s development team negotiated with the hacker to return 90% of stolen funds, planning a new token to reimburse holders.</li>
</ul>
<p><strong>Discover the volatile world of cryptocurrency through the contrasting fortunes of NORMIE and MAGA token traders, highlighting both risks and rewards.</strong></p>
<h2><strong>NORMIE Exploit: A Cautionary Tale</strong></h2>
<p>Lookonchain, a blockchain analytics firm, recently reported two contrasting developments involving different cryptocurrencies, highlighting the volatility and risks inherent in the digital asset market. A NORMIE exploit has resulted in substantial losses for one trader, whereas another trader secured impressive gains from trading MAGA.</p>
<p>A trader who invested $1.16 million to purchase 11.23 million NORMIE tokens, buying at $0.1035 each between March 25 and April 9, saw its value plummet to a meager $150 following an exploit. NORMIE’s price fell sharply to $0.000003, marking a 98.69% drop in just 24 hours, with a 24-hour trading volume of $5.82 million. The exploit led to a precipitous decline, highlighting the risks associated with cryptocurrency investments.</p>
<h3><strong>MAGA Token: A Lucrative Opportunity</strong></h3>
<p>Conversely, Lookonchain identified a lucrative trade involving MAGA tokens. On May 24 and 25, a trader invested $537,500 to acquire 6 billion $MAGA tokens. In just three days, the trader sold 1.5 billion MAGA tokens for $744,000 USDT, realizing a remarkable ROI of 505%. The trader still holds 4.5 billion $MAGA tokens, now valued at $2.51 million. MAGA’s price surged by 100.55% in the last 24 hours.</p>
<h3><strong>Negotiations and Recovery Efforts</strong></h3>
<p>The situation surrounding NORMIE took another turn when the development team revealed negotiations with the hacker responsible for the exploit. The hacker offered to return 90% of the stolen funds, resulting in a $41.7 million plunge in the token’s market cap within three hours. Lookonchain was one of the first to detect the exploit and the hacker’s on-chain message to NORMIE’s deployer address on May 26.</p>
<p>NORMIE’s team accepted the hacker’s offer to retrieve 90% of the stolen tokens. The condition was that the recovered funds and $2.3 million from the team’s development wallet would be used to launch a new token to reimburse NORMIE holders. This approach aims to mitigate the impact on investors and restore some of the lost value, although the token has already seen a 96% decline since the exploit.</p>
<h3><strong>Conclusion</strong></h3>
<p>The contrasting fortunes of NORMIE and MAGA token traders underscore the inherent volatility and risks in the cryptocurrency market. While one trader faced significant losses due to an exploit, another achieved remarkable gains through strategic trading. Investors must remain vigilant and informed, understanding that the crypto landscape can shift dramatically in a short period. As NORMIE’s development team works to recover and reimburse affected holders, the broader crypto community is reminded of the importance of security and due diligence in this rapidly evolving space.</p>