Four.Meme platform on BNB Chain faced a major cyberattack, losing $183K. The platform assured users that their funds are secure.
Vulnerability in Four.Meme
In yet another cryptocurrency vulnerability, the memecoin launch platform Four.Meme was targeted in a cyberattack. Exploiting the growing liquidity in meme tokens, attackers made off with assets worth $183K.
Report from PeckShieldAlert
The security firm PeckShield reported a loss of $183K. Following the breach, Four.Meme suspended token transactions on PancakeSwap. Trading will resume once the issue is resolved. The platform had previously seen record user activity, which plummeted following the attack.
Impact of the Attack
The attack occurred shortly after an uptick in platform activity, with unique address numbers peaking at 11,473. This metric fell to 5,301 following the attack. Such incidents are common in the crypto industry, with meme coin launchpads often targeted by hackers.
The breach undermines trust in the entire cryptocurrency ecosystem, particularly in memecoin launch platforms. Frequent incidents highlight the need for bolstered security and vigilance in digital currency environments.
