Four.Meme, the BNB Chain-based memecoin launch platform, has resumed operations after temporarily halting its services due to a security exploit.
The attack, which took place on March 18, targeted the platform using a market manipulation technique known as a sandwich attack, resulting in a loss of approximately $120,000.
Platform restores services after security enhancements
Four.Meme announced on March 18 via X that its launch function was back online after completing a security inspection and implementing additional safeguards.
🚨 Update from Four.Meme 🚨
The launch function has now been resumed after a thorough security inspection. Our team has addressed the issue and reinforced system security.
Compensation for affected users is underway. If you haven’t submitted your claim yet, please…
The company initially suspended its launch function to investigate the attack, stating that it was “under attack” and needed to assess the vulnerability.
The platform confirmed that it had addressed the exploit and reinforced its system security measures. The company further added:
The launch function has now been resumed after a thorough security inspection. Our team has addressed the issue and reinforced system security. Compensation for affected users is underway.
How the exploit was executed
Web3 security firm ExVul revealed in a March 18 X post that the attack was carried out through a sandwich attack, a market manipulation strategy used to exploit price movements.
After careful analysis, we found out that Four.meme @four_meme_ was hit by Sandwich Attack, Losing Approximately $120K
This incident was a classic sandwich attack. The hacker pre-calculated the address for creating the liquidity pool’s trading pair and utilized…
The attacker pre-calculated the address for creating the liquidity pool’s trading pair and utilized one of Four.Meme’s functions to purchase tokens while bypassing the platform’s token transfer restrictions.
Once liquidity was added by Four.Meme, the attacker executed transactions that allowed them to siphon funds from the platform.
Blockchain security firm CertiK confirmed similar findings, stating that the attacker transferred an imbalanced number of unlaunched tokens to the liquidity pool before the pair was created.
1/ In this case of SBL token for example, the attacker sent a bit of SBL token to the pre-calcualted pair address in advance, then profited 21.1 BNB by sandwiching the add liquidity transaction at launch.
By manipulating token prices at the time of launch, the attacker was able to profit significantly.
CertiK highlighted how the attacker used this tactic with SBL tokens.
The attacker sent a small amount of SBL tokens to a pre-calculated pair address before the liquidity transaction, ultimately profiting 21.1 BNB.
Overall, the attacker netted 192 BNB, worth around $120,000, and sent the funds to the decentralized exchange FixedFloat.
Four.Meme’s second security breach in two months
This is the second time in as many months that Four.Meme has fallen victim to an exploit.
On February 11, the platform suffered another attack that led to the loss of approximately $183,000 worth of digital assets.
The latest breach underscores ongoing security concerns within the decentralised finance (DeFi) sector, where emerging platforms remain prime targets for attackers.
Crypto exploits continue to surge
Four.Meme’s latest attack is part of a wider trend of rising crypto-related exploits.
February alone saw approximately $1.53 billion in losses due to scams, hacks, and exploits, with the $1.4 billion Bybit hack accounting for the majority of the damage.
Blockchain analytics firm Chainalysis has reported that illicit crypto transaction volumes reached $51 billion in the past year, attributing this surge to an increasingly professionalized landscape of cybercrime.
AI-driven scams, stablecoin laundering, and organized cyber syndicates have contributed to making the crypto sector more vulnerable to sophisticated attacks.
Despite these setbacks, Four.Meme has reaffirmed its commitment to enhancing platform security and compensating affected users.
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