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BNB Chain memecoin platform Four.Meme hit by $183K exploit

BNB Chain memecoin platform Four.Meme hit by $183K exploit

CointimeCointime2025/02/11 13:39
By:Cointime

From cointelegraph by Zoltan Vardai

The BNB Chain-based memecoin launch platform Four.Meme has suffered a security breach, with hackers targeting the growing liquidity in meme tokens.

“We are currently experiencing a malicious attack, and our team has intervened immediately to address the issue,” Four.Meme said in a Feb. 11 X post.

The platform assured users that internal funds are safe and “unaffected by the attack.”

BNB Chain memecoin platform Four.Meme hit by $183K exploit image 0   Source: Four.Meme

Still, the Four.Meme exploit on Feb. 11 resulted in the loss of about $183,000 worth of digital assets, according to blockchain security firm Peckshield.

BNB Chain memecoin platform Four.Meme hit by $183K exploit image 1   Source: PeckShieldAlert

Crypto hacks and exploits continue damaging the industry’s mainstream reputation and adoption. While  crypto hacks saw a 44%  year-over-year decrease in January 2025, the month still resulted in over $73 million stolen.

BNB Chain memecoin platform Four.Meme hit by $183K exploit image 2 Funds lost per attack vector. Source: Cyvers

Moreover, crypto hackers stole  $2.3 billion  across 165 incidents in 2024, a 40% increase over 2023, when hackers stole $1.69 billion worth of crypto.

Related:  Ethereum short positions surge 500% as hedge funds bet on decline

Four.Meme in the spotlight since TST token surge

Four.Meme came into the industry’s spotlight after the rapid rise and fall of the Test (TST) token.

BNB Chain memecoin platform Four.Meme hit by $183K exploit image 3 TST/USD, market cap, all-time chart. Source: CoinMarketCap 

The TST token rosed temporarily to a peak market cap of $489 million on Feb. 9 before falling over 50% to the current $215 million,  CoinMarketCap  data shows.

TST was briefly uncovered for about one second in a BNB Chain tutorial video for its Four.Meme platform, solely for test purposes.

BNB Chain memecoin platform Four.Meme hit by $183K exploit image 4   TST token in BNB Chain training video. Source: Lamaxbt

Following the revelation, China-based influencer communities started promoting the token and driving up its market capitalization, despite Binance’s co-founder and former CEO, Changpeng Zhao,  clarifying  that the video was “not an endorsement” of the token.

Related:  Austin University to launch $5M Bitcoin fund with 5-year HODL strategy: Report

Following the TST token’s rise,  Zhao admitted that  Binance’s token listing process “is a bit broken,” due to the arbitrage opportunities used by  decentralized exchange (DEX)  traders that led to poor performance shortly after the listing.

To create more transparency for the world’s largest crypto exchange,  Binance co-founder  Yi He addressed the main criteria for token listings, which include the coin’s potential return on investment (ROI), ability to bring innovation and new users and the token’s market performance on other exchanges.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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