QUADRIGA INITIATIVE
CRYPTO WATCHDOG & FRAUD RECOVERY PLATFORM
A COMMUNITY-BASED, NOT-FOR-PROFIT
$183 000 USD
FEBRUARY 2025
GLOBAL
FOUR MEME
DESCRIPTION OF EVENTS
Four Meme is a decentralized platform focused on meme coins, allowing users to create, trade, and explore a wide range of meme-based digital assets. The platform supports various meme coins with diverse themes, including AI-driven, meme-centric, and culturally inspired tokens like Trump Sleep, CZ BUNI, and Chinese Pepe. Each token is typically launched on Binance Smart Chain (BNB) and features fluctuating market caps that highlight the speculative nature of meme coin investments.
Four Meme enables users to create their own meme tokens, which are listed and traded on PancakeSwap and other decentralized exchanges. The platform provides a user-friendly environment to search, create, and rank tokens. It also offers a unique feature to track token performance, including market cap and percentage changes, allowing users to stay updated on their investments. Despite the playful nature of meme coins, Four Meme maintains a disclaimer emphasizing the speculative and volatile nature of these digital assets, encouraging users to conduct their own research before trading.
"Four.meme is a streamlined, low-cost pathway to introduce even more meme tokens into the world. Create anything. Any meme you want to put out into the blockchain ecosystem. We’re here to be your canvas and your logistical minion. We’ll help you get the most traction possible with users on BSC. All we’re asking is you create the best viral memes that can potentially make you famous."
The platform underscores the risks involved in trading meme coins, acknowledging that their values can be highly volatile. Users are advised to assess their financial situation and risk tolerance. Additionally, Four Meme clarifies that it does not endorse or guarantee the success of any tokens created on the platform and will not be held liable for losses or damages associated with trading meme coins.
"We are currently experiencing a malicious attack, and our team has intervened immediately to address the issue. To ensure security, token trading on DEX has been temporarily suspended and will be reopened once our development team completes the fix."
"We are currently experiencing a malicious attack, and our team has intervened immediately to address the issue. To ensure security, token LP launched on @PancakeSwap is temporarily suspended, and will be reopened once our development team completes the fix, on-chain trading is operating normally."
"Update on Recent Incident Our platform’s core functions have mostly been restored, and on-chain trading remains fully operational. Our team has worked swiftly to mitigate the attack, ensuring security and stability. We appreciate the community’s patience and support. Stay tuned for further updates!"
"Latest Update on User Compensation Please fill out the following form to apply for compensation for the incident: We will gradually verify the losses of users affected by this malicious attack and will complete compensation within this week. Please be patient. Thank you for your understanding and support. We are always committed to protecting our user and will continue to update progress."
"The memecoin platform Four.Meme was attacked. According to an analysis by the SlowMist security team, the attacker was able to execute a frontrunning attack by pre-creating a liquidity pool on PancakeSwap v3 with an extremely high token price. When the token was integrated into PancakeSwap v3, liquidity was added based on the unbalanced pool set up by the attacker. Since the project team did not verify the pool's price, the added liquidity followed the maliciously set price. As a result, the attacker was able to exploit this mechanism to drain assets from the pool."
It appears that Four Meme has resolved the issue and provided a form for users to receive compensation.
Users can request compensation using a provided form. It is unclear how many users have been compensated.
Four Meme is a decentralized platform focused on meme coins, allowing users to create, trade, and explore a variety of meme-based digital assets, such as AI-driven, meme-centric, and culturally inspired tokens. It offers an easy-to-use environment for creating, ranking, and tracking token performance, primarily on the Binance Smart Chain (BNB). Recently, Four Meme experienced a malicious attacker manipulating liquidity pools on PancakeSwap v3, exploiting unverified prices. The team responded swiftly, suspending token trading to address the issue, and is now offering compensation for affected users. Despite this setback, Four Meme remains committed to its community and continues to improve security.
SlowMist - "We detected potential suspicious activity related to @four_meme_. A malicious user can front-run by creating a pool on PnacakeSwap v3 with an extremely skewed price for the token scheduled to launch. When the token migrates to PnacakeS...ter/X (Mar 20)
Four Meme Linktree (Mar 21)
Four Meme - "We are currently experiencing a malicious attack, and our team has intervened immediately to address the issue. To ensure security, token trading on DEX has been temporarily suspended and will be reopened once our development team com...ter/X (Mar 21)
Four Meme - "We are currently experiencing a malicious attack, and our team has intervened immediately to address the issue. To ensure security, token LP launched on @PancakeSwap is temporarily suspended, and will be reopened once our development ...ter/X (Mar 21)
Four Meme - "Update on Recent Incident Our platform’s core functions have mostly been restored, and on-chain trading remains fully operational. Our team has worked swiftly to mitigate the attack, ensuring security and stability. We appreciate th...ter/X (Mar 21)
Four Meme - "Latest Update on User Compensation Please fill out the following form to apply for compensation for the incident: We will gradually verify the losses of users affected by this malicious attack and will complete compensation within thi...ter/X (Mar 21)
Creating Extreme Price Pools Transaction - BSCScan (Mar 21)
Token Migration Launch Transaction - BSCSCan (Mar 21)
Four Meme Documentation - Gitbook (Mar 21)
ExVulSec - "Alert! Our SkyEye system detected an attack on @four_meme_ on bsc. root case seems does not exist in contract, but @four_meme_, it does not check price properly when adding liquidity Hash" - Twitter/X (Mar 21)
BlockSpy - "This have happened a couple of times now... tokens get migrated, but the migration contract only takes a fraction of a token and takes full BNB value, and inject it into the migrated lp, leading to a holder can oneclip the whole LP." -...ter/X (Mar 21)
