$120,000 Vanished: Four.Meme Restores Services Post-Hack

On March 18, the platform announced via X, stating, "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".

The exploit netted the attacker 192 BNB BNB $614.79 , worth around $120,000. The stolen funds were later moved to the decentralized exchange FixedFloat.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is Decentralized Crypto Gambling? (Animated Explainer)

SUBSCRIBE

ON YOUTUBE

Blockchain security firms CertiK and ExVul analyzed the incident, identifying it as a sandwich attack—a method used to manipulate token prices.

CertiK’s analysis revealed that the attacker influenced token prices by sending an uneven amount of un-launched tokens to a trading pair address before liquidity was added. This manipulation allowed them to execute profitable trades at launch.

CertiK detailed a specific case involving SBL tokens, noting, "The attacker sent a bit of SBL token to the pre-calculated pair address in advance, then profited 21.1 BNB by sandwiching the add liquidity transaction at launch".

ExVul explained that the attacker pre-calculated the liquidity pool address and used one of Four.Meme’s functions to purchase tokens while bypassing restrictions. By waiting for Four.Meme to add liquidity, the attacker was able to siphon funds undetected.

On March 12, a crypto trader lost more than $215,000 in a sandwich attack. How? Read the full story.