Blockchain security firm SlowMist has identified a critical liquidity exploit affecting four.meme, a recently launched meme coin launchpad operating on the BNB Chain. The vulnerability allowed attackers to purchase tokens before their official launch, raising significant concerns in light of the platform's previous security challenges.
According to SlowMist's security advisory, attackers exploited a specific function within the platform's smart contract architecture. By utilizing the 0x7f79f6df function, they were able to send pre-launch tokens to a designated PancakeSwap pair address that had not yet been created on the network.
The sophisticated attack bypassed transfer restrictions that were active before the token's official release. This maneuver enabled attackers to establish the trading pair and add liquidity without transferring unissued tokens, effectively circumventing the platform's security measures. Consequently, they added liquidity at an unintended price point, resulting in the theft of pool assets.
"Why would the pool be emptied after the platform was fairly launched? If there is such a loophole, do all coins have this risk?" wrote Wick, a prominent user on social media platform X, highlighting growing community concerns about the security of meme coin platforms.
The incident marks the second major security breach for four.meme in recent months. In February, the platform suffered a significant exploit resulting in losses of approximately $183,000. During that attack, hackers manipulated liquidity by creating a fake liquidity pool on PancakeSwap V3 before the legitimate pool's opening.
In response to the latest breach, four.meme issued an emergency announcement acknowledging the malicious attack. The team suspended the token liquidity pool launched on PancakeSwap to mitigate further damage and assured users they were implementing stronger protections.
The exploitation comes at a pivotal moment for the BNB Chain ecosystem. PancakeSwap, the leading decentralized exchange on the network, recently achieved its highest trading volume since 2021, reaching $81 billion in February 2025. This surge pushed its cumulative trading volume beyond $1.1 trillion, with PancakeSwap now controlling approximately 90% of BNB Chain's decentralized exchange market share.
This remarkable growth has been fueled by the broader recovery of the BNB Chain and surging interest in meme coins. However, security incidents like the four.meme exploit highlight persistent vulnerabilities within the ecosystem that threaten to undermine user confidence.
As decentralized finance platforms and meme coins continue to attract substantial capital inflows, ensuring robust security measures becomes increasingly critical for maintaining ecosystem integrity.
The recurring nature of these exploits underscores the challenges faced by emerging platforms in securing complex smart contract systems against determined attackers.
Industry experts recommend that users exercise heightened caution when engaging with new projects, particularly in the volatile meme coin sector. Platform developers must prioritize comprehensive security audits and implement multiple layers of protection to safeguard user assets and preserve the credibility of the broader decentralized finance landscape.