Four.Meme, a popular meme token launch platform on Binance’s BNB Chain, temporarily suspended its launch function after a sophisticated attack exploited vulnerabilities in its token listing process.
The incident, which allowed a hacker to manipulate liquidity pools and extract funds, was quickly identified and investigated.
Following a thorough security review, Four.Meme resumed its operations, assuring users of improved security measures and announcing compensation for those affected.
How the Attack Unfolded
The attack, first flagged by blockchain security firms CertiK and SlowMist, exploited a flaw in Four.Meme’s launch mechanism.
The hacker leveraged a method known as a sandwich attack, which involved preemptively sending tokens to a designated liquidity pair address before it was officially created.
This tactic enabled the attacker to manipulate the token’s initial price, allowing them to profit once the liquidity was added.
CertiK’s analysis revealed that the attacker used this strategy on at least 18 out of hundreds of targeted tokens, ultimately siphoning off approximately 125 BNB ($80,000).
The stolen funds were subsequently sent to FixedFloat, a cryptocurrency swapping service, along with an initial 67 BNB used to execute the attack.
SlowMist provided additional insights, explaining how the hacker bypassed Four.Meme’s token transfer restrictions by using a specific function (0x7f79f6df) to acquire tokens before launch, then funneling them into PancakeSwap liquidity pools at an unintended price.
This method effectively drained liquidity from affected token pools, leading to substantial financial losses estimated at around $120,000.
Aftermath and Future Implications
In response to the attack, Four.Meme swiftly suspended its token launch function to conduct a comprehensive security audit.
Shortly thereafter, the platform announced the resumption of services following a reinforced security inspection.
Affected users were encouraged to submit compensation claims through an official form provided by the platform.
Despite the incident, Four.Meme continues to grow in popularity as a meme token launchpad, positioning itself as a potential alternative to Pump.fun.
In recent weeks, the platform has seen a surge in user activity, with over 143,000 unique users and 1,519 tokens listed since its inception.
Additionally, its close ties to Binance and endorsements from influential figures such as Changpeng ‘CZ’ Zhao have fueled interest in new meme token projects launched on the platform.
As a result of this attack, Four.Meme may need to undergo further audits and introduce more stringent protective measures to ensure the safety of its users and the integrity of its token launch mechanisms.
Growing Security Concerns Amid Booming Ecosystem
Meanwhile, before now, Four.Meme recently suffered a security breach, resulting in the loss of approximately $183,000 in digital assets.
Four.Meme had gained significant attention due to the rapid rise and fall of the Test (TST) token, which peaked at a $489 million market cap before crashing by over 50%.
The resurgence of Four.Meme coincides with increasing activity on the BNB Smart Chain and expectations of a potential ‘BNB Season,’ where Binance’s ecosystem regains prominence as a hub for meme tokens.
Following an announcement of a series of major upgrades set for 2025, focusing on enhancing transaction speed, reducing costs, and integrating AI-driven features, Binance Coin (BNB) surged by 8.1%, briefly overtaking Solana (SOL) to become the fifth-largest cryptocurrency by market capitalization.
For now, 2025 is facing significant hacks already. In fact, the largest hack in crypto history occurred last month to Bybit, one of the largest cryptocurrency exchanges, where the exchange suffered massive security, resulting in the unauthorized withdrawal of over $1.5 billion in funds.
The post Four.Meme Resumes Launch Feature on BNB Chain After Attack appeared first on Cryptonews.
