BNB Chain Memecoin Platform Four.Meme Hit by $200K Exploit

Highlights:

• Four.Meme suspends its token liquidity pool temporarily after the exploit.
• CertiK reported the attacker stole around $200,000 using unverified contracts.
• SlowMist’s founder said weak security could let attackers strike again.

On Feb 11, Four.Meme, a memecoin launchpad on the BNB Chain, announced it faced a malicious attack. This led to the temporary suspension of its token liquidity pool on PancakeSwap. The company reassured users that its internal funds are safe. The team said they are closely monitoring the situation and will provide ongoing updates to the community.

A user on X reported that the exploit began around 2:00 AM GMT when they tried to buy BNC on Four.Meme. However, there wasn’t enough liquidity to complete the transaction. Other users criticized the platform for reposting the same breach message four times.

Just tried to buy my first token $BNC on @four_meme_. The second the bonding curve filled it migrated to @PancakeSwap and instantly liquidity was removed. I thought hard scams weren't possible?

Isnt https://t.co/cKERRpmS2Z supposed to be safe?https://t.co/4whJ3gTeXi pic.twitter.com/mCoIPYWgcC

— Minty (@MintysMooners) February 11, 2025

Four.Meme Exploit Results in $200K Loss

However, Web3 security firm CertiK reported that the attacker exploited vulnerabilities in several unverified contracts, stealing assets valued at approximately $200,000.

#CertiKInsight 🚨

We have seen an exploit on @four_meme_ launchpad.

The attacker accessed the victim's meme tokens through several unverified vulnerable contracts, taking ~$200K to the attack contract at 0x06799F7b09A455c1cF6a8E7615Ece04B31A9D051.https://t.co/v706CTXM5v

Stay… pic.twitter.com/rDSg7dmTuR

— CertiK Alert (@CertiKAlert) February 11, 2025

However, PeckShield, another security firm, estimated the loss at 287 BNB. This amounts to approximately $183,000.

#PeckShieldAlert @four_meme_ has reported suffering an exploit, resulting in a loss of ~$183K.https://t.co/d84BRJs3nJ pic.twitter.com/4nWmURCmjb

— PeckShieldAlert (@PeckShieldAlert) February 11, 2025

SlowMist, a blockchain security firm, further analyzed the attack and identified liquidity manipulation as the hacker’s main method. Their investigation revealed that the attacker created a pool on PancakeSwap V3 before the token launch. This allowed them to set an artificial price for the token prior to its official migration.

When the token was launched and integrated into PancakeSwap, the fake pool controlled the liquidity. Ultimately, it allowed the hacker to steal assets. SlowMist’s founder, Yu Xian, blamed weak security measures for the exploit. 

Recent attacks have raised security concerns for memecoin launchpads, following similar incidents like the May last year flash loan attack on Pump.fun and the $2.2 million theft from Gem Pad last month.

Four.Meme Suspends Liquidity Pool After Incident

In a follow-up update, Four.Meme confirmed the temporary suspension of its token liquidity pool on PancakeSwap. Trading will resume once the development team implements the necessary fix, though on-chain trading will continue as usual.

The memecoin launchpad stated:

“To ensure security, token LP launched on PancakeSwap is temporarily suspended, and will be reopened once our development team completes the fix, on-chain trading is operating normally.”

Meanwhile, the Four.Meme hack had little impact on its native token, Memecoin. According to CoinMarketCap, Memecoin saw a 4.45% increase in the last 24 hours.

Four.Meme recently gained attention when the BNB Chain team launched the Test Token (TST) for a tutorial video on using the Four.Meme launchpad. Originally intended for educational purposes, TST experienced an unexpected price spike of 1,100% in just three days, peaking at $0.52. Binance CEO CZ later clarified on X that TST was not an official token and had no connection to BNB Chain other than being part of the tutorial.

As of now, TST’s price has dropped to $0.22. However, it still maintains a market cap of around $203K, with a 27% increase in the past 24 hours.