David Edwards
Four.Meme is a meme token launch platform based on the BNB Chain.Hackers stole almost $183,000 worth of digital assets from Meme as a result of a security compromise.
“We are currently experiencing a malicious attack, and our team has intervened immediately to address the issue,” Four.Meme wrote in a post on X. However, the platform assured users that internal funds remain secure and unaffected by the attack.
Crypto Hacks Keep Undermining Industry Confidence
Even though January 2025 saw a 44% decrease in crypto-related hacks compared to the previous year, hackers were still able to take over $73 million in that month. A 40% increase over the $1.69 billion lost in 2023, a total of $2.3 billion was stolen in 165 incidents in 2024.
This most recent attack on Four.Meme highlights the ongoing dangers that DeFi platforms face, despite the industry’s efforts to increase security and gain broader acceptance.
Four.Meme Attracted Notice After TST Token Increase
Four.Memes initially became well-known following the Test (TST) token’s explosive growth. According to CoinMarketCap data, the token’s market capitalization temporarily reached $489 million on February 9 before falling more than 50% to its current valuation of $215 million.
After being briefly and unintentionally revealed in a BNB Chain tutorial video, TST gained popularity. The token soared after China-based influencer networks vigorously shared the video, even though Changpeng Zhao (CZ), the former CEO of Binance, clarified that it was “not an endorsement.”
Changpeng Zhao acknowledged that Binance’s token listing procedure is problematic in the wake of TST’s volatility, pointing out that decentralized exchange (DEX) traders take advantage of arbitrage opportunities, resulting in erratic post-listing performance.
