Hackers Exploits Four.Meme Token Pre-Launch Vulnerability

Four.Meme, a BNB Chain-based memecoin generator, has suffered a significant security breach, resulting in the theft of approximately 200 BNB, equivalent to roughly $130,000.

This exploit, targeting the platform’s launch function, has necessitated the immediate suspension of this feature while the underlying vulnerability is addressed.

Four.Meme Pre-Launch Token Exploited

According to blockchain security firm SlowMist, the attacker leveraged a flaw within the platform’s 0x7f79f6df function. The attack commenced with the purchase of a small quantity of Four.Meme tokens. The attacker then exploited the launch function to transfer these tokens to a non-existent trading pair address on PancakeSwap, a decentralized exchange operating on the BNB Chain.

Subsequently, the attacker created this non-existent trading pair and added liquidity without depositing the aforementioned tokens. This cunning maneuver circumvented Four.Meme’s built-in transfer restrictions. Finally, the attacker manipulated the liquidity pool’s price, enabling the siphoning of approximately 200 BNB.

While the extent of the breach remains under investigation, and the full remediation process is underway, Four.Meme’s development team has temporarily disabled the token launch function.

The platform has publicly acknowledged the attack on X (formerly Twitter), assuring users that a compensation plan is in place. A damage submission form has been provided to affected users, with reimbursements promised within the week.

Recurring Attack as Platform Reassures Users

The platform’s statement on X emphasizes its commitment to resolving the issue, enhancing security protocols, and providing regular updates on the ongoing investigation and remediation efforts.

This incident marks the second significant security breach affecting Four.Meme within six weeks. A previous attack, occurring just six weeks prior, resulted in losses of approximately $183,000 due to a vulnerability in the token liquidity pool on PancakeSwap.

This pattern of security incidents raises serious concerns regarding the platform’s overall security posture and prompts calls for a comprehensive review and strengthening of its security measures. The frequency of these attacks highlights the critical need for rigorous security audits and the implementation of robust safeguards to prevent future compromises and protect user assets.

The lack of sufficient security protocols to prevent these repeated attacks raises significant questions about the platform’s long-term viability and the confidence of its user base.