Four.Meme, a prominent BNB Chain-based memecoin generator, has suffered a malicious exploit resulting in a substantial financial loss for the platform.
An alarming report from PeckShield, a leading blockchain security firm, indicates that the platform suffered a significant breach, culminating in the loss of approximately $183,000 in digital assets.
PeckShield’s report came a few minutes after Four.Meme made the news public on its X page. The memecoin generator informed its users about the attack and assured them that its team had initiated an immediate response to contain the issue.
🚨 Emergency Announcement 🚨
We are currently experiencing a malicious attack, and our team has intervened immediately to address the issue. To ensure security, token LP launched on @PancakeSwap is temporarily suspended, and will be reopened once our development team completes… pic.twitter.com/kll3tI5Pme
— Four.Meme (@four_meme_) February 11, 2025
While working to resolve the problem, Four.Meme pledged to maintain transparency and provide regular updates to its community.
Four.Meme Attacked After Popularity Surge
The malicious attack on Four.Meme occurred in the aftermath of a remarkable surge in popularity, which saw the memecoin generator platform catapult to prominence just days earlier.
This sudden and notable increase in attention was attributed mainly to a significant endorsement by Changpeng Zhao (CZ), the influential co-founder and CEO of the crypto exchange Binance.
Recently, CZ drew attention to Four.Meme through a video tutorial created by a BNB Chain team member. The tutorial showcased the process of launching a meme token on the platform, utilizing TST as a demonstration token. Unknown to the team members, the seemingly innocuous tutorial would unintentionally propel TST to unprecedented heights.
After a Chinese community influencer stumbled upon the token’s name in the video, its market capitalization soared to $494,560.
The unexpected surge in popularity brought both TST and Four.Meme into the spotlight, so the BNB staff hastily removed the video tutorial. However, CZ intervened, acknowledging the futility of attempting to erase the video from the internet. Instead, he advised the team member to reinstate the tutorial, embracing the situation as an unavoidable consequence of the internet’s unforgiving nature.
Crypto Hacks on the Rise
Crypto hacks are increasingly frequent, leaving a trail of devastating losses. In a recent report, DMM Bitcoin, a Japanese cryptocurrency exchange, announced plans to cease operations following a massive hack in May that stole approximately $321 million in digital assets.
