The BNB chain-based Memecoin launch platform four.meme continued operations after being hit by a sandwich attack that exploited it for $ 120,000.
Four.meme Says In a post of March 18 X the launch operating returned after inspection and addressing a security issue. The function was previously suspended to investigate it, saying it was “under attack.”
“The launch operating has continued after a thorough security inspection.
Source: Four.meme
Web3 Security Firm Exvul Says In a post of March 18 x that exploitation appeared to be a market manipulation strategy Known as an attack on the sandwich That is a netting to the attack of $ 120,000.
It said the attack was “pre-calculated the address for creating a liquidity pool trade pair” and used one of the platform functions to buy tokens, which successfully exceeded the restrictions on the token shift of Four.meme.
“Subsequently, the hacker is waiting for four.meme to add liquidity to the transaction, eventually absorbing funds,” Exvul added.
Source: Exvul
Blockchain security firm Certik came to a similar conclusion and Says The Attacks moved an unbalanced amount of uninitiated tokens to pair the addresses before the pair was created, then manipulated the launch price to sell them afterwards for income.
“In this case of the SBL token, for example, the attack sent a little SBL token to the pre-calculated pair of pairs in advance, then 21.1 BNB benefited by sandwiching the addition of liquidity transaction to the launch,” Certik said.
Source: Certik
The tactic detected the attack to leave with at least 192 BNB (Bnb), worth nearly $ 120,000, which they sent to the decentralized crypto exchange fixedfloat, according to Certik.
Related: Pump.fun memecoins die at record rates, less than 1% live
This is the second time the four.meme has been attacked for months, with a Feb. 11 Exploitation resulting in a loss of nearly $ 183,000 Worth of digital assets.
Throughout the broader crypto industry, February saw $ 1.53 billion in losses in scamsexploitation and hacks, along with the $ 1.4 billion bybit hack Accounting for the lion’s part.
Blockchain analytics firm said chainalysis The previous year has seen $ 51 billion in the prohibited volume of transaction.
Magazine: Memecoins will die and Defi will rise again – Sasha Ivanov
