Binance News: Four.Meme Platform Hacked Again, Halts New Token Launches

In a recent development, Binance’s Four.Meme platform has been hacked for the second time in a short period, prompting the exchange to halt new token launches. Here’s a detailed summary of the incident.

Binance’s Four.Meme Platform Exploited Again, Halts New Token Launches

Hackers exploited Binance’s Four.Meme platform by bypassing the coin listing process and creating unauthorized trading pairs, allowing them to drain liquidity from newly launched tokens. A Blockchain security firm, SlowMist, revealed that the attacker used a specific function in the smart contract to send pre-launch tokens to a non-existent PancakeSwap address, manipulating liquidity and stealing funds. This is the second hack of Four.Meme, with the platform previously suffering a similar attack in February that led to a loss of around $183,000.

BNB Chain Launches Good Will Alliance to Combat Malicious MEV Attacks

BNB Chain has launched the Good Will Alliance to combat malicious Maximal Extractable Value (MEV) activities, with a special focus on stopping sandwich attacks. The alliance uses advanced filtering strategies to mitigate these attacks and urges BSC validators to accept only blocks from vetted ethical builders. The initiative has gained strong community support with a 79% approval rate, bringing together essential infrastructure builders, validators, and the broader BNB ecosystem to secure the platform and maintain ethical adherence.