Four.Meme, a meme token platform on the BNB Chain, suspended trading after a security breach that drained $183,000.
Temporary Suspension of Liquidity Pool Transactions
Following the incident, the platform announced a temporary halt in liquidity pool transactions on PancakeSwap. Users were reassured that internal funds remained safe and unaffected. The team is actively working on fixing vulnerabilities, and normal trading will resume as soon as the issues are resolved. Despite the suspension, on-chain trading remains active.
Changpeng Zhao's Response to Token Listings
Changpeng Zhao, former CEO of Binance, noted issues related to the unexpected interest in the TST token, linked to a tutorial video about Four.Meme. He pointed out that the decentralized nature of TST makes it difficult to control trading, irrespective of Binance's stance. Zhao also commented on issues in centralized exchange token listing processes and suggested automating them to enhance efficiency and transparency.
Security Fix and Future Actions
The Four.Meme team is actively working to resolve the security breach and restore normal trading operations. Users are advised to stay informed through official channels as the platform implements enhanced security measures to prevent future exploits.
Four.Meme faced a significant fund drain but is actively working to restore user trust and platform security.
