Binance’s memecoin platform loses almost $200K in hack

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—by Protos Staff

Binance’s memecoin platform, Four Meme, has suffered a malicious attack that’s reportedly led to losses of more than $180,000 worth of Binance Coin (BNB).

Four Meme shared an “Emergency Announcement” today that said, “We are currently experiencing a malicious attack, and our team has intervened immediately to address the issue.” 

It added, “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.”

Read more: Whitehat hacker rescues $1.5M from first DeFi hack of 2025

According to crypto security firm PeckShield, the incident resulted in BNB losses of roughly $183,000.

Four Meme is Binance’s answer to Pump Fun, a memecoin platform launched in July last year that claimed to have a “fair” system of launching that didn’t include “pre-sale, seed round, or team allocation.” 

Data recorded by Chainalysis shows that losses from hacking crypto platforms reached $2.2 billion last year, a 21% increase from the year before. 

One of the first major hacks of this year saw $2.5 million removed from decentralized finance options platform Moby, on Arbitrum network. Fortunately, $1.5 million in USDC from this incident was recovered by a whitehat hacker who was able to hack the hacker. 

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