Normie Memecoin Project “Fires Intern” Over Offensive Video, Apologizes for Content
Normie, a memecoin project built on Coinbase’s native blockchain Base, removed an offensive video posted on its official X account by allegedly firing the intern responsible on June 10.
The promotional video, which sparked widespread disapproval within the crypto community, depicted a blue-skinned cartoon chef dancing with heavily exaggerated full lips, prompting strong criticism from the crypto community.
Normie Apologizes for Controversial Video, Allegedly Fires Intern After Backlash
Normie clarified that the video’s intended message was to convey that “there is always a way out, even when everything is coming at you, and that positive change begins with oneself.” However, they acknowledged that the execution unintentionally triggered a sensitive topic.
After careful consideration and internal reflection, we have decided to remove our last video.
The intended message was to demonstrate that there is always a way out, even when everything is coming at you, and that positive change begins with oneself. It was never our intention…
— Normie (@NormieBase) June 10, 2024
The Normie team released a statement on X regretting the incident and apologized to those offended by the content.
Responding to Normie’s apology, one user questioned the decision to blame the intern,
“How is this the intern’s fault?” the X user questioned. “Did he make and post the whole video himself? Did your team not approve it? Fire whoever should’ve been helping the intern and allowed that to happen.”
NORMIE Memecoin Plummets 96% Following Flash Loan Attack on Base Blockchain
The NORMIE price reached a peak market cap of $130 million on April 2. On May 26 at 3:55 am UTC, its price plummeted over 99% to three hours following a flash loan attack.
The flash loan attack exploited a flaw in Normie’s contract tax mechanism. The attacker borrowed a large amount of cryptocurrency without collateral, manipulated the token supply, and repaid the loan within the same transaction.
Following the exploit, the Normie project team announced that the hacker had contacted them and agreed to return 90% of the stolen funds.
The Normie team accepted the hacker’s terms to recover the funds. Using the returned assets and $2.3 million from their development wallet, the team launched a new token to compensate NORMIE holders.
“Exploiter, we accept your offer to return 90% of the exploited $ETH,” the team addressed the hacker. “You may keep 10%, no reprisals.”
Despite the agreement, NORMIE’s price is down by 96% since the exploit.
