- A malicious attack on Four Meme, Binance‘s memecoin platform, resulted in approximately $183,000 worth of BNB losses.
- Platform administrators temporarily suspended token liquidity pools on PancakeSwap while developers work on security fixes.
- Four Meme was created as Binance’s competitive response to Pump Fun, promising fair token launches without pre-sales.
- This incident adds to the growing trend of crypto security breaches, with industry losses reaching $2.2 billion in 2023.
- The attack follows another recent DeFi security breach where Moby lost $2.5 million, of which $1.5 million was recovered by a whitehat Hacker.
Binance’s memecoin platform Four Meme fell victim to a malicious attack on February 11, 2025, resulting in losses exceeding $183,000 in BNB tokens, according to security firm PeckShield. The platform immediately suspended its liquidity pools on PancakeSwap while its development team implements security measures.
The incident marks another significant security breach in the cryptocurrency sector, where attacks have become increasingly frequent. According to Chainalysis data, crypto-related hacks resulted in losses of $2.2 billion in 2023, representing a 21% increase from the previous year.
Four Meme was launched as Binance’s strategic response to Pump Fun, a competing platform that emerged in July 2023. The platform marketed itself with a unique value proposition: “fair” system launches without “pre-sale, seed round, or team allocation.”
In their emergency announcement shared on X (formerly Twitter), platform administrators stated: “We are currently experiencing a malicious attack, and our team has intervened immediately to address the issue.”
This attack follows another significant security breach earlier this year, where decentralized finance options platform Moby lost $2.5 million. In that case, a whitehat hacker – an ethical security researcher – managed to recover $1.5 million in USDC by counter-hacking the original attacker’s position.
The incident highlights the ongoing security challenges faced by decentralized finance (DeFi) platforms, where smart contract vulnerabilities and technical exploits continue to pose significant risks to user funds and platform stability.
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