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19/03/25
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Four.Meme Resumes Operations After $120K Security Breach
The launch platform for the BNB Chain-based memecoin, Four.Meme, has resumed its operations following a significant security breach that resulted in a loss of approximately $120,000. On March 18, the platform announced via social media that its launch functions have been restored after a comprehensive assessment and remediation of the security vulnerability. Previously, the platform had suspended certain functions to investigate the ongoing attacks it was facing.
In the wake of the incident, the team at Four.Meme confirmed that they have strengthened system security and are in the process of compensating the users who were adversely affected by the breach. The attack was identified as a sandwich attack — an exploit that manipulates market behavior to allow the attacker to profit at the expense of other traders. According to cybersecurity experts, the perpetrator was able to pre-calculate the address necessary for the creation of the liquidity pool’s trading pair and utilized platform functions to acquire tokens in a way that circumvented the existing token transfer restrictions.
Experts further revealed that, once the platform added liquidity to the transaction, the hacker capitalized on the moment to extract funds from the arrangement. This attack was characterized by manipulating the price of tokens at launch, whereby the attacker had transferred an unbalanced quantity of tokens ahead of the liquidity pairing, which enabled profit-taking soon after the launch. The exploit allowed the hacker to walk away with at least 192 BNB, equivalent to around $120,000, which was sent to a decentralized crypto exchange.
This incident marks the second attack on Four.Meme within two months, following a prior exploit in February that resulted in the loss of approximately $183,000 in digital assets. The broader cryptocurrency landscape continues to suffer from security breaches, with scams and hacks resulting in losses amounting to $1.53 billion in February alone, much of which can be attributed to the increased sophistication of cyber crimes within the sector.
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