Incident Overview
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.
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.