Four.Meme Hacked! $183K Stolen in Malicious Crypto Attack
Four.Meme, a leading memecoin launch platform on Binance Smart Chain, has suffered a malicious attack, resulting in a $183K loss and forcing the platform to temporarily suspend its token liquidity pool on PancakeSwap. Despite the breach, Four.Meme assured users that internal funds remain secure and unaffected.
Hack Leads to Six-Figure Loss
According to blockchain security firm PeckShield, the attack led to the loss of approximately $183,000 worth of digital assets. This incident adds to the growing list of security breaches affecting the crypto space.
Just last month, Gem Pad, another memecoin launchpad, suffered a similar exploit, leading to a staggering $2.2 million loss across multiple chains and tokens. These repeated attacks highlight the urgent need for improved DeFi security measures.
Four.Meme Token Defies the Attack
Surprisingly, the attack had little impact on Four.Meme’s native token, which has actually risen by 5% in the past 24 hours, according to CoinMarketCap. This unexpected resilience comes at a time when investors are increasingly cautious about DeFi vulnerabilities.
BNB Chain’s Viral Test Token (TST) Story
Interestingly, the hack follows Four.Meme’s recent viral moment, when the BNB Chain team launched a test token (TST) for an educational tutorial on its platform. Originally meant just for demonstration, TST skyrocketed by 1,100% in three days, hitting an all-time high of $0.52.
However, Binance founder CZ later clarified that TST had no official ties to BNB Chain beyond the tutorial. As a result, TST has since dropped to $0.22, yet still maintains an impressive $208K market cap, reflecting a 22% gain in the past 24 hours.
- Read More:- What Happened with TST?
BNB Chain Grows Despite Security Risks
Despite ongoing security concerns, BNB Chain continues to expand, recently surpassing 500 million unique active addresses. The rapid growth of the DeFi sector makes security a top priority, with developers and investors urged to implement stronger protective measures against exploits.
With crypto hacks becoming more frequent, the big question remains: Is the DeFi space ready for the next major attack? Stay tuned for updates on this evolving situation.
