Four.Meme Suffers $120,000 Hack, Relaunches After Security Fix
Four.Meme, a memecoin launch platform on the BNB Chain, recently suffered a security breach resulting in a loss of approximately $120,000. The exploit, identified as a sandwich attack, involved the attacker manipulating the platform’s liquidity mechanisms to siphon funds.
In response, Four.Meme temporarily suspended its token launch function to conduct a comprehensive security inspection.The team has since addressed the vulnerabilities and reinforced system security, resuming operations shortly after. They have also initiated compensation procedures for affected users, urging them to submit claims for verification.
This incident marks the second significant exploit targeting Four.Meme in recent months. In February, the platform experienced a similar attack that led to losses of approximately $183,000, highlighting ongoing security challenges within the decentralized finance (DeFi) space. ха
The recent attack underscores the critical need for robust security measures in DeFi platforms, particularly those facilitating token launches. Four.Meme’s proactive steps to address the breach and compensate affected users demonstrate a commitment to platform integrity and user trust. However, these recurring incidents emphasize the importance of continuous security assessments and enhancements to protect against sophisticated exploits.
Editorial Team
Reporter at Coindoo
