Good news for users of Four Meme, the Binance memecoin platform! Launch features are back online after a recent “attack” that resulted in the theft of $130,000 worth of Binance Coin (BNB).

This security breach led the platform to immediately suspend its launch function and begin an urgent investigation into the incident. 

In an update shared on X at 9:23 UTC, Four Meme announced, “The launch function has now been resumed after a thorough security inspection. Our team has addressed the issue and reinforced system security.”

Four Meme is assuring users that anyone affected will receive full compensation and is asking them to fill out a claim form on their website. 

Read more: Binance’s memecoin platform loses almost $200K in hack

Earlier in the day, Four Meme had alerted users that it was “under attack,” leading to the immediate suspension of the launch function for an “emergency investigation.”

According to crypto security firm Peckshield reports, the attacker managed to steal 200 Binance Coin (BNB) from Four Meme, valued at approximately $130,000, and then transferred the funds to the FixedFloat crypto exchange.

Further insights from security firm SlowMist indicate that the attackers exploited a vulnerability. This exploit allowed them to send a small quantity of tokens to a PancakeSwap Pair address, even if that address was not yet live.

This loophole meant that attackers could inject liquidity into the trading pool unfairly, without using the tokens that were supposed to be launched later. As SlowMist explained, “Ultimately, the attacker was able to add liquidity at an unintended price to steal pool liquidity.”

It’s worth noting that Four Meme experienced a similar security incident last February, which resulted in a loss of $183,000 worth of BNB and a temporary halt to a token liquidity pool on PancakeSwap.

Protos has contacted Four Meme seeking further details on the incident and will update this story as more information becomes available.

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