BNB Chain Meme Platform Four.Meme Suspends Trading After Security Breach

• Four.Meme halted trading after an exploit drained $183,000, with liquidity pool transactions temporarily suspended on PancakeSwap.
• The project assured users that internal funds remained unaffected while the development team worked on fixing security vulnerabilities.
• Changpeng Zhao expressed concerns over token listings and suggested automated systems to enhance transparency and efficiency in crypto trading.

Four. Meme, a meme token platform on the BNB Chain, has suspended trading after experiencing a security breach. The project confirmed the attack on February 11, explaining that immediate measures had been taken to contain the situation and safeguard user funds. 

According to blockchain security firm PeckShield, the exploit resulted in a loss of approximately $183,000 worth of digital assets. However, the project did not disclose specific details about the nature of the breach or potential vulnerabilities in its system.

Liquidity Pool Transactions Suspended

Following the incident, the platform announced that liquidity pool (LP) transactions launched on PancakeSwap had been temporarily halted. Four. Meme reassured users that internal funds remained safe and unaffected. The team is actively working on a fix, and normal trading activities will resume once the security issues are addressed. Despite the LP suspension, on-chain trading remains operational.

Several users on X reported problems before the official announcement. One user attempted to buy BNC tokens through Four. Meme at around 2:00 AM GMT but encountered liquidity shortages that prevented the transaction. Additionally, some community members accused the project of repeatedly reposting the same announcement in an attempt to downplay the timeline of the breach.

Changpeng Zhao Weighs in on Token Listings

Former Binance CEO Changpeng Zhao acknowledged concerns about the unexpected interest in the TST token, which was linked to a tutorial video related to Four.Meme. Zhao noted that TST’s decentralized nature made it difficult to control trading, regardless of Binance’s stance.

Zhao also commented on broader issues in crypto token listings, pointing out flaws in centralized exchange (CEX) listing processes. He explained that the short notice period between an announcement and listing often leads to rapid price surges on decentralized exchanges (DEX) before trading begins on CEX platforms. He suggested that automating token listings could improve efficiency and transparency in the industry.

Security Fix and Future ActionsThe Four.Meme team is actively working to resolve the security breach and restore normal trading operations. Users are advised to stay informed through official channels as the platform implements security enhancements to prevent future exploits.