June 10, 2024
Latest Cryptocurrency News

Normie Memecoin Faces Backlash and Intern Termination Over Offensive Video

Normie, a memecoin project based on Coinbase’s native blockchain Base, recently announced the termination of an intern responsible for posting an offensive video on its official X account. The video, released on June 10, depicted a blue-skinned cartoon chef dancing with heavily exaggerated lips, sparking widespread criticism from the crypto community.

Apology and Explanation Follows Backlash

In response to the backlash, Normie issued a public apology and removed the video.

“We sincerely apologize to anyone who was offended by the content. We are committed to ensuring that this does not happen again.”

Message from Team Normie

Critics questioned the accountability within Normie’s team, pointing out potential oversight issues.

“How is this the intern’s fault? Did he make and post the whole video himself? Did your team not approve it?”

Comment from a user

Normie clarified that the video’s intended message was to convey resilience and positive change. It stated, “It was never our intention to trivialize a sensitive topic.”

Recent Challenges for Normie Memecoin

This incident is the latest challenge for Normie, which also suffered a significant security breach last month. Hackers exploited a smart contract, stealing 225 Ether (approximately $881,686) of users’ funds. This led to a dramatic $41.7 million drop in the token’s market capitalization within three hours.

Moreover, Normie later negotiated with the hacker to recover 90% of the stolen NORMIE tokens. The project agreed to use the recovered funds and $2.3 million from its development wallet to launch a new token, reimbursing NORMIE memecoin holders. Furthermore, on June 7, Normie announced that 192 ETH had been recovered and that the token launch at its new address was complete.

Despite these hurdles, Normie memecoin continues to navigate the volatile crypto landscape, aiming to rebuild trust and stability within its community.

Image by freepik

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

Related posts

dYdX Founder Steps Down as CEO After Seven Years

Christian Green

Hong Kong’s OSL Crypto Platform: Sale Rumors Debunked, but What Lies Ahead?

Cheryl  Lee

Tech Giants Unite: IBM Quantum, Microsoft, Google Subsidiary, and More Tackle Post-Quantum Cryptography

Eva Moore

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Please enter CoinGecko Free Api Key to get this plugin works.