Four-meme platform manipulated for liquidity theft, resulting in a loss of $130,000.
BREACHED COIN: Four.meme's Staggering $130K Heist on PancakeSwap
Key Points:* A brazen thief pilfered $130k from the Four.meme platform by exploiting PancakeSwap.* The incident exposes weaknesses in decentralized finance (DeFi) security.
Baker's Street: A Tale of Cryptocurrency Theft and Vulnerable DeFi Platforms
PANews exposed a mind-boggling security breach on March 18, 2025. Four.meme, the blockchain platform, found itself at the receiving end of a grand theft, with an attacker making off with a whopping 200 BNB, equivalent to $130k.
The mastermind orchestrated this heist by manipulating the Four.meme system, bypassing token transfer restrictions. The mischievous trickster then abused the Four.meme function, , on PancakeSwap to create unauthorized trading pairs and pilfer approximately $130k worth of BNB.
The culprit's scheme involved bypassing transfer restrictions, manipulating liquidity at unfavorable prices, and draining funds from the liquidity pool. This attack underscored critical vulnerabilities within the liquidity pool mechanism, with security firm SlowMist stating, "Our monitoring showed that the vulnerability in Four.meme's liquidity mechanism enabled the thief to bypass transfer restrictions, leading to significant financial losses."
Kingdom Come: Incident Response and the Crypto Community's Reactivity
In response, the Four.meme team quickly addressed the issue, announcing plans to compensate affected users and rectify the security flaw. Evidently, the incident sparked a wider discussion on the importance of robust security protocols in DeFi projects within the crypto community.
As of now, key figures have refrained from commenting on the incident. Nonetheless, the impact on platform trust is evident.
The Crooked Prince: Security Breaches in DeFi and Calls for Stricter Regulations
It's worth noting that repeated security breaches in the DeFi sector have raised concerns among experts, who argue that it may lead to tighter regulations. With security weaknesses in growing DeFi platforms fueling recurring vulnerabilities, there have been ongoing debates about adopting stricter security protocols and guidelines.
John Kojo Kumi: Unveiling DeFi's Kryptos with Cryptocurrency Research and Writing
John Kojo Kumi is a dedicated cryptocurrency researcher and writer, with specialized knowledge in emerging startups, tokenomics, and market dynamics within the blockchain ecosystem.
Armed with years of experience in crypto journalism and blockchain research, John provides in-depth coverage of decentralized finance (DeFi), NFTs, and Web3 innovations. Holding a Bachelor of Arts in Geography and Rural Development from Kwame Nkrumah University of Science and Technology, Kumasi, John's multidisciplinary perspective contributes to his insightful and data-driven analysis.
His areas of expertise encompass content strategy, SEO optimization, and technical research. As a Crypto News Writer, John keeps a close eye on industry trends, ensuring his readers stay informed about cryptocurrencies and digital assets. His role as a Registrar at the Commission on Human Rights and Administrative Justice demonstrates his commitment to governance and transparency.
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- The exploit on Four.meme's platform, resulting in a $130k heist, highlights vulnerabilities within decentralized finance (DeFi) security.
- In the incident, the attacker manipulated the Four.meme system to bypass transfer restrictions and create unauthorized trading pairs on PancakeSwap.
- The security firm SlowMist indicated that the vulnerability in Four.meme's liquidity mechanism enabled the theft, leading to significant financial losses.
- John Kojo Kumi, a cryptocurrency researcher and writer, frequently covers emerging startups, tokenomics, and market dynamics within the blockchain ecosystem.
- Due to repeated security breaches in DeFi, experts are advocating for stricter regulations to ensure the security of growing DeFi platforms.
- The cryptocurrency industry is experiencing developments such as Bitcoin surging in value due to increasing institutional interest, market volatility, and Bitcoin mining giants achieving record profits.
- Wublockchain, the blockchain platform, operates within the banking-and-insurance and technology sectors, underscoring the increasing interconnectedness of traditional finance with cryptocurrency and the role of technology in DeFi security.
