Four.Meme platform stopped their PancakeSwap liquidity pool operations after BNB Chain network security experts found evidence of an attack. The platform team verified the hack and stated they would repair the issue while allowing users to trade on-chain.
Four.Meme faces a major test after entering the crypto market because of its quick token success especially with Test (TST).
The value of TST increased by 10,000% after the initial release in an educational video when former Binance CEO Changpeng Zhao mentioned it on social media. Binance added the token to its markets because of its fast growth.
https://twitter.com/four_meme_/status/1889198796695044138
CertiK and PeckShield Provide Conflicting Loss Estimates
Security experts confirm that unauthorized access through several unverified contracts enabled a hacker to steal around $200,000 from the network. CertiK placed the stolen funds at $200,000 but PeckShield reported 287 BNB or $183,000 took from the platform in the attack.
https://twitter.com/CertiKAlert/status/1889204942193496340?t=lka7icPhPvnLd38rtztZfw&s=19
Security firm SlowMist revealed liquidity manipulation created the main weak spot for attack. During the token launch the attacker constructed a fake liquidity pool on PancakeSwap V3 prior to the legitimate pool opening.
#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
To prepare for this attack the attacker created false pricing on the exchange before the real liquidity pool was ready. By setting fake token prices in advance the fraudster received stolen funds more quickly from the legitimate liquidity pool before it was detected.
Four.Meme Assures Users: Funds Remain Secure
Eight.Meme discovered that its system needed to verify liquidity pool prices before accepting deposits into the platform. The platform bug created a weak protection against price manipulation and loss of funds which let hackers exploit this vulnerability to steal from the system. Yu Xian from SlowMist demanded better security measures because without them additional hacks would likely occur.
https://twitter.com/SlowMist_Team/status/1889206331644789244?t=c6eQW6HTS5aQCTRBufpBQQ&s=19
Four.Meme told users that team monitoring efforts protected their funds from the hacker while stable reserves stayed secure. The company will establish improved security systems and share every development of the ongoing research with its users.
Assets remain protected despite this becoming yet another demonstration of weaknesses in DeFi networks. Many new projects in memecoin markets need strong security systems to protect users from theft and build trust in the market.
