The blockchain security company SlowMist has discovered an attack targeting the Four.meme platform, resulting in the theft of the liquidity fund. The hacker exploited a vulnerability in the platform's transaction mechanism to carry out the asset misappropriation.
Specifically, the attacker purchased a small amount of Token through a feature on Four.meme. Then, he used this feature to send the Token to a trading pair address on PancakeSwap, even though the trading pair had not yet been created. This action allowed the hacker to create a new trading pair and add liquidity without being limited by the transfer conditions of Four.meme.
Leveraging this vulnerability, the hacker was able to add liquidity at an invalid price, thereby exploiting and draining the platform's liquidity fund. This is a sophisticated attack tactic that takes advantage of weaknesses in the trading pair creation and liquidity management processes of the DeFi ecosystem. This not only caused significant losses for Four.meme users, but also raises major concerns about the security of decentralized trading protocols on PancakeSwap and similar platforms.
Four.meme is a launchpad platform on the BNB Chain that specializes in memecoin projects, providing fair launch support. In addition to serving as a launch pad for new Tokens, Four.meme also builds a community-connected ecosystem, helping creators, traders, and investors access potential opportunities on the BNB Chain.
Previously, on 11/2, the project was attacked, forcing the team to temporarily suspend Token trading on decentralized exchanges (DEXs) to mitigate risks.
Also Read: four.meme attacked, forced to close trading on DEX
