$4M memecoin wallet drain spans Solana and EVM networks

An on-chain investigation has traced roughly $4 million in memecoin transfers across Solana and several EVM networks, with the funds moving out of wallets signed by the victim’s own keys. The trail includes activity on Solana and later transfers on Base and BNB Chain, but the available evidence does not show a malicious contract interaction or an approval-based drain.

The investigation was published by Trenchbook’s on-chain dispatch, which said the funds were moved in a way that points to wallet access rather than a standard token approval exploit. The report also noted that the root cause remains unconfirmed.

Transfers began on Solana before moving into EVM chains

According to the on-chain trail cited in the analysis, four transfers out of the Solana wallet 9wMS…v8zQ took place on 6 October between 20:14:54 and 20:15:34 UTC. Those transactions totaled 1.43 million BP, alongside other tokens, before funds were swapped and sent onward.

The same analysis says the movement later continued across EVM networks, including Base and BNB Chain. The transactions were signed with the victim’s own keys, which limits what can be concluded from the data alone: the visible path shows control of the wallets, but not how that control was obtained.

A separate thread from an on-chain analyst said the trader lost about $4 million in memecoins across EVM and Solana wallets, again noting that the path did not show a malicious contract pull. That leaves open possibilities such as compromised keys or another form of wallet access, but not a confirmed root cause.

For now, the clearest facts are the size of the drain, the cross-chain movement and the absence of evidence for an approval-based exploit in the transactions highlighted so far. The underlying compromise mechanism has not been publicly established.