SlowMist, a blockchain security firm, recently posted on social media platform X and raised a concern regarding fraudulent memecoins that have been floated in the name of the firm.
According to the post, these memecoins have been floated on various platforms such as pump.fun and Four.Meme. SlowMist further also clarified that it has never released any tokens, nor it plans to do so in the future.
Why was the warning raised by SlowMist?
The warning was raised by the security team to create awareness and protect investors from falling victim to these fraudulent schemes which take advantage of the popularity of memecoins in the crypto market.
There has been growing trend within the cryptocurrency space, where the scammers target new and inexperienced users. In January 2025, the security firm had already raised alarms about various scams that were being executed.
One of the scams that was reported, was centered around Telegram scam where various user accounts were compromised and funds were lost through the use of Malware.
Previous Incidents Reported by the Security Firm
The firm has been vigilant and has been actively informing its users about such scams that are being carried out by the bad actors in the industry and creating awareness regarding such vulnerable situations.
Previously, SlowMist had reported about Four.Meme exploit, where the platforms exhibited a rise of such fraudulent memecoins. On the platform, in February 2025, a hacker stole approximately $183,000. The hacker was able to execute the exploit by targeting a loophole in the platform’s smart contract. The hackers then manipulated the liquidity pool on PancakeSwap V3 and artificially inflated the token prices.
In this way, the hackers were able to drain assets from the actual liquidity pool after the token launch. This indicated the lack of verification checks in Four.Meme’s protocol, led to the platform suspending operations temporarily so that the security measures could be enhanced. Such incidents indicate the need for deep and thorough study before engaging with new tokens or platforms.
By constantly sharing insights and warnings about scams, vulnerabilities and best practices, SlowMist is helping the community get through these complex situations safely. The firm’s effort not only protects users but also looks after the trustworthiness of the blockchain ecosystem.
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