Four.meme blockchain platform hit by liquidity vulnerability exploit

Blockchain security firm SlowMist has identified a liquidity exploit vulnerability affecting four.meme, a recently launched meme coin launchpad operating on the BNB chain.

According to SlowMist's security advisory, the attacker exploited a specific function within four.meme's smart contract to purchase tokens before their official launch. The exploit involved:

• Using the 0x7f79f6df function to send pre-launch tokens to a designated PancakeSwap pair address that had not yet been created
• Establishing the pair and adding liquidity without transferring the unissued tokens
• Effectively bypassing transfer restrictions that were active before the token's official release
• Adding liquidity at an unintended price, resulting in the theft of pool liquidity

The number of affected individuals and the value of the breach is not disclosed.

A popular X user named Wick questioned the security implications, asking: "...why would the pool be emptied after the platform was fairly launched? If there is such a loophole, do all coins have this risk?"

This is not four.meme's first security breach. In February, the platform suffered another significant exploit resulting in a loss of approximately $183,000.

In response to the current incident, the BNB chain meme coin platform issued an emergency announcement acknowledging the malicious attack. The team promptly suspended the token liquidity pool (LP) launched on PancakeSwap to address the security issue.