Source: Cointelegraph Original: "{title}"

The meme coin issuance platform Four.Meme, based on the BNB Chain, has resumed operations after suffering a sandwich attack that resulted in a loss of approximately $120,000.

The Four.Meme team stated in a post on the X platform on March 18 that its issuance function has been relaunched after security issues were checked and resolved. Previously, the platform had suspended this function for investigation and warned that it was under attack.

The Four.Meme team said, "After a comprehensive security check, the issuance function has now been restored. Our team has fixed the issues and strengthened system security, and compensation for affected users is also underway."

Source: Four.Meme

Web3 security company ExVul stated in a post on X on March 18 that the attack appeared to be a market manipulation technique known as a "sandwich attack," from which the attacker profited $120,000.

The company noted that the attacker "pre-calculated the address for creating liquidity pool trading pairs" and used a feature of the platform to purchase tokens, successfully bypassing Four.Meme's token transfer restrictions.

ExVul added, "Subsequently, the hacker waited for Four.Meme to add liquidity to the transaction, ultimately stealing the funds."

Source: ExVul

Blockchain security company CertiK reached a similar conclusion, stating that the attacker transferred an unbalanced amount of unreleased tokens to the pairing address before the trading pair was created, then manipulated the price upon release and sold for profit.

CertiK stated, "Taking the SBL token as an example, the attacker sent some SBL tokens to the pre-calculated pairing address in advance, then profited 21.1 BNB through liquidity-adding trades during the release."

Source: CertiK

According to CertiK, this strategy allowed the attacker to take away at least 192 BNB (approximately $120,000) and sent it to the decentralized cryptocurrency exchange FixedFloat.

This is the second attack on Four.Meme in just a few months, with an attack on February 11 resulting in a loss of digital assets valued at approximately $183,000.

Throughout the cryptocurrency industry, losses due to scams, exploits, and hacking in February reached as high as $1.53 billion, with Bybit's $1.4 billion hacking incident accounting for a significant portion.

Blockchain analysis company Chainalysis reported that the illegal transaction volume over the past year reached $51 billion, partly due to cryptocurrency crime entering a specialized era dominated by AI-driven scams, stablecoin laundering, and efficient cybercrime groups.

Related: Cryptocurrency traders suffer sandwich attacks in stablecoin exchanges, losing $215,000.

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