Memecoin launchpad on BNB Chain, Four.Meme has restored its token launch function following an exploit that resulted in a $130,000 loss.
In a March 18 post on X, the Four.Meme team confirmed it had suffered an attack, prompting an emergency suspension of its launch function. The platform stated:
“Currently, Four.Meme is under attack, and the launch function has been suspended for emergency investigation. We will compensate affected users and provide a damage submission form to collect relevant information.”
Hours later, the team announced that the launch function had resumed after completing a thorough security review.
The team also confirmed that compensation for impacted users had begun and urged them to submit claims for processing. Affected individuals must be verified, and payouts are expected within the week.
Despite these updates, Four.Meme did not disclose the exact amount lost in the attack or the cause of the breach.
Nevertheless, this marks the second significant exploit on Four.Meme in less than two months.
On Feb. 11, the platform suffered a liquidity manipulation attack, leading to the suspension of its Liquidity Provider (LP). Security analysts estimated losses from that incident to be between $183,000 and $200,000
Understanding this attack
Web3 security firm SlowMist explained that the attacker exploited a vulnerability in the 0x7f79f6df function, allowing them to purchase tokens before launch.
Using this function, the attackers sent tokens to a PancakeSwap Pair address that had not yet been created. This loophole enabled them to establish the Pair and inject liquidity without transferring the yet-to-be-launched tokens.
The attacker bypassed Four.Meme’s transfer restrictions (MODE_TRANSFER_RESTRICTED) and manipulated liquidity at an unintended price, ultimately draining pool funds.
Through this attack, blockchain security firm PeckShield reported that the hacker siphoned approximately 200 BNB (valued at $130,000) and moved the funds to FixedFloat.
The post Four Meme handles second exploit in months, reinstates launch service appeared first on CryptoSlate.
