On March 18, 2025, Binance’s memecoin platform Four Meme faced a cyberattack that resulted in the theft of $120,000 in Binance Coin (BNB). The platform had to temporarily suspend its launch features to conduct a thorough investigation into the security breach. After completing a security inspection, Four Meme was able to identify the vulnerability that allowed the attackers to steal the funds and took measures to enhance its system security to prevent similar incidents in the future.
The cybercriminals behind the attack exploited a loophole in the platform’s token transfer restrictions by using a pre-calculated address for creating liquidity pools. Security firms like Peckshield and SlowMist confirmed that the attackers manipulated the liquidity pools and carried out a “sandwich attack” to profit from the stolen BNB. The stolen funds were reportedly transferred to the crypto exchange FixedFloat, further complicating the situation.
In response to the cyberattack, Four Meme made a public announcement that it would fully compensate the affected users for their losses. The platform encouraged users to file claims through its website to receive reimbursement for the stolen funds. This incident came shortly after a similar attack in February 2025, where $183,000 worth of BNB was stolen, leading to the suspension of the liquidity pool on PancakeSwap.
Despite these challenges, Four Meme reassured its users that it had implemented stronger security measures and vowed to continue investigating any potential vulnerabilities or exploits. The recent cyberattacks highlighted the increasing risks and vulnerabilities present in the cryptocurrency space, with a rise in market manipulation and hacking incidents targeting decentralized platforms and liquidity pools.
As the crypto industry continues to evolve and expand, it is crucial for platforms like Four Meme to prioritize security measures to protect user funds and maintain trust within the community. By learning from past incidents and proactively addressing security threats, companies can safeguard their platforms and provide a secure environment for users to engage with cryptocurrencies and other digital assets.
Overall, the cyberattack on Four Meme serves as a reminder of the importance of robust security measures in the rapidly changing landscape of the crypto market. It also underscores the need for continuous monitoring and updates to prevent potential vulnerabilities that could be exploited by malicious actors.