Security Issue Resolved, Operations Restarted!

In an X post dated March 18, Four.Meme announced that its launch function is back online after addressing a security vulnerability. Earlier, it had suspended the function, stating the platform was “under attack.”

“The launch function has now been resumed after a thorough security inspection. Our team has addressed the issue and reinforced system security. Compensation for affected users is underway.”

— Four.Meme Team

$120,000 Sandwich Attack Confirmed!

Web3 security firm ExVul reported in a March 18 X post that the exploit was a market manipulation tactic known as a sandwich attack, netting the attacker $120,000.

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According to ExVul, the attacker “pre-calculated the address for creating the liquidity pool’s trading pair” and used one of the platform’s functions to purchase tokens. This allowed them to bypass Four.Meme’s token transfer restrictions.

“Subsequently, the hacker lay in wait for Four.Meme to add liquidity to the transaction, ultimately siphoning off the funds.”

— ExVul

CertiK Also Confirms: The Attacker Escaped with 192 BNB!

Blockchain security firm CertiK confirmed similar details, stating that the attacker transferred an imbalanced amount of unlaunched tokens to pair addresses before the liquidity pair was created. They then manipulated the price at launch for profit.

For example, in the case of the SBL Token, the attacker sent a small amount of SBL Token to the pre-calculated pair address, then made a 21.1 BNB profit by sandwiching the liquidity addition transaction at launch.

In total, the attacker walked away with approximately 192 BNB (worth about $120,000), which they later sent to the decentralized crypto exchange FixedFloat, according to CertiK.

Four.Meme Hit by Its Second Exploit in Two Months!

This attack marks the second time in two months that the Four.Meme platform has been exploited. The previous attack on February 11 resulted in a loss of about $183,000 worth of digital assets.

In the wider crypto industry, February saw $1.53 billion in losses due to scams, exploits, and hacks, with the $1.4 billion Bybit hack accounting for the majority of the losses.

Blockchain analytics firm Chainalysis reported a total of $51 billion in illicit transaction volume over the past year. This increase is attributed to a professionalized era of crypto crime dominated by AI-powered scams, stablecoin laundering, and efficient cybercriminal syndicates.

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