From cointelegraph by Zoltan Vardai

The BNB Chain-based memecoin launch platform Four.Meme has suffered a security breach, with hackers targeting the growing liquidity in meme tokens.

“We are currently experiencing a malicious attack, and our team has intervened immediately to address the issue,” Four.Meme said in a Feb. 11 X post.

The platform assured users that internal funds are safe and “unaffected by the attack.”

Still, the Four.Meme exploit on Feb. 11 resulted in the loss of about $183,000 worth of digital assets, according to blockchain security firm Peckshield.

Crypto hacks and exploits continue damaging the industry’s mainstream reputation and adoption. While crypto hacks saw a 44% year-over-year decrease in January 2025, the month still resulted in over $73 million stolen.

Moreover, crypto hackers stole $2.3 billion across 165 incidents in 2024, a 40% increase over 2023, when hackers stole $1.69 billion worth of crypto.

Related: Ethereum short positions surge 500% as hedge funds bet on decline

Four.Meme in the spotlight since TST token surge

Four.Meme came into the industry’s spotlight after the rapid rise and fall of the Test (TST) token.

The TST token rosed temporarily to a peak market cap of $489 million on Feb. 9 before falling over 50% to the current $215 million, CoinMarketCap data shows.

TST was briefly uncovered for about one second in a BNB Chain tutorial video for its Four.Meme platform, solely for test purposes.

Following the revelation, China-based influencer communities started promoting the token and driving up its market capitalization, despite Binance’s co-founder and former CEO, Changpeng Zhao, clarifying that the video was “not an endorsement” of the token.

Related: Austin University to launch $5M Bitcoin fund with 5-year HODL strategy: Report

Following the TST token’s rise, Zhao admitted that Binance’s token listing process “is a bit broken,” due to the arbitrage opportunities used by decentralized exchange (DEX) traders that led to poor performance shortly after the listing.

To create more transparency for the world’s largest crypto exchange, Binance co-founder Yi He addressed the main criteria for token listings, which include the coin’s potential return on investment (ROI), ability to bring innovation and new users and the token’s market performance on other exchanges.