The BNB Chain-based meme coin launch platform Four.Meme has been attacked again, resulting in significant financial losses.
Recent Attack on Four.Meme
According to PeckShield, the latest attack resulted in the theft of approximately 200 BNB, valued at around $130,000. The stolen funds have already been transferred to the non-custodial exchange FixedFloat. Blockchain security firm SlowMist first issued a security alert regarding the exploit, revealing that the attacker manipulated functions to gain an unfair advantage before the official token launch. The attack manipulated liquidity pairs on PancakeSwap, leading to substantial financial losses for the project and its users.
Four.Meme's Response
Four.Meme confirmed the incident and suspended its launch function for investigation. The platform stated that affected users can submit claims for verification, and compensation is promised within a week.
Increase in Crypto Attacks
This February, the industry suffered $1.6 billion in losses from hacks, an 8x increase from last year. The largest breaches involved Bybit, losing $1.46 billion, and Infini, with $49.5 million, highlighting the growing threat landscape and challenges for crypto security.
Four.Meme is taking steps to prevent future attacks and ensures users of their assets' safety. The platform emphasizes improving its protection mechanisms and compensating affected clients.
