Four.Meme, a popular meme coin launchpad on the BNB Chain, has been hit by a major security exploit, forcing the platform to suspend its launch function and leaving affected users demanding compensation. This is the second time in two months that Four.Meme has faced an attack, raising serious concerns about the platform’s security.
Table of Contents
What Happened?
On March 18, the Four.Meme team confirmed on social media that the platform was under attack, forcing them to suspend the launch function while an emergency investigation was conducted. In their official statement, they assured affected users that they would be compensated and introduced a damage submission form to collect information from those impacted.
Blockchain security firm SlowMist later provided more details, revealing that the attacker had taken advantage of a specific function within the Four.Meme smart contract. This allowed them to purchase tokens before launch and manipulate liquidity pools to steal funds. By exploiting a loophole in how liquidity was added on PancakeSwap, the hacker was able to set token prices at unintended levels, effectively draining the liquidity pool before the launch even officially began.
The result? An estimated loss of around $120,000 to $130,000, with stolen funds swiftly moved to FixedFloat, a platform commonly used for anonymous crypto transactions.
A Repeat Incident: Is Four.Meme Secure?
This isn’t the first time Four.Meme has been exploited. Just last month, the platform lost $183,000 in another attack, where a hacker created a fake liquidity pool on PancakeSwap before the real one was launched.
Users are now questioning whether Four.Meme has done enough to prevent these types of exploits. Some are accusing the platform of failing to implement basic security measures:
Why would the pool be emptied after the platform was fairly launched? If there is such a loophole, do all coins have this risk?
Four.Meme Response
In response to the attack, the Four.Meme team has halted token launches and is working to improve platform security. They have also committed to fully compensating affected users, stating that once the verification process is complete, payouts will be issued within the week.
This assurance is crucial for maintaining user trust, but it does little to calm broader concerns about the risks involved in new memecoin projects. Given that this is the second major exploit in just two months, many are questioning whether Four.Meme can truly secure its platform going forward.
Read also: What’s Happening with Pump.fun? A Look at Its Recent Activity Drop
