four.Meme Suffers Another Attack, Token launch Feature Temporarily Suspended
Memecoin launch platform Four.Meme has confirmed a new security breach. The platform, built on Binance Smart Chain, has temporarily halted its token launch feature. An emergency investigation is underway to address the malicious attack.
Four.Meme has pledged to compensate affected users. Those impacted must complete a submission form with necessary details for compensation. The team is working diligently to resolve the issue and enhance system security.
According to blockchain security firm SlowMist, the attacker exploited a pre-launch vulnerability. They sent tokens to a non-existent PancakeSwap Pair address, creating a trading pair and adding liquidity without transferring unlaunched tokens. This bypassed Four.Meme’s transfer restriction, allowing the attacker to add liquidity at an unintended price and drain pool liquidity.
While the exact losses are undisclosed, BscScan data shows the attacker added liquidity worth 4.02 trillion tokens. This is not the first attack on Four.Meme.In february, a similar incident led to a temporary suspension of its liquidity pool on PancakeSwap, resulting in a loss of about $183,000 in digital assets.
Four.Meme assures users that their funds remain safe. the platform will continue to provide updates on the investigation’s progress.
