Four.Meme Faces Cyber Attack Resulting in $183K Loss and Temporary Token Pool Suspension
Four.Meme, a platform for launching memecoins on the Binance Smart Chain, has reported a significant cyber attack that has led to a loss of approximately $183,000 and the temporary suspension of its token liquidity pool on PancakeSwap. The platform has assured users that its internal funds remain secure and were not impacted by the exploit, as confirmed by blockchain security firm PeckShield.
This recent incident adds to the growing list of cyberattacks targeting crypto platforms. Earlier this year, Gem Pad, another memecoin launchpad, experienced an exploit resulting in an estimated loss of $2.2 million across various chains and tokens.
Despite the challenges posed by the attack, the memecoin (MEME), Four.Meme’s native token, has shown resilience, appreciating by about 5% in the past 24 hours, according to recent market data.
Adding to the intrigue, Four.Meme gained attention when the BNB Chain team introduced a test token (TST) linked to a tutorial video showcasing the Four.Meme launchpad. Initially intended for educational purposes, TST skyrocketed by 1,100% within its first three days, hitting an all-time high of $0.52. However, Binance’s founder later clarified that TST was not an official token and had no official ties to the BNB Chain beyond its tutorial connection. As of now, TST has settled at $0.22, maintaining a market cap of approximately $208,000, representing a 22% increase in the last 24 hours.
In light of ongoing security concerns in the crypto space, BNB Chain continues to see growth, having recently surpassed 500 million unique active addresses.
