Hazelcast as drop-in replacement for Memcached - memcached

Question

Currently, we have an application that works with Memcached using spy-memcached (Java) client. Wanted to introduce Hazelcast for this application. At a very early stages of this integration, I want to use Hazelcast using Memcached protocol.
Starting standalone Hazelcast server ./server.sh. and trying to connect from app.
Getting error from Hazelcast console
INFO: [172.17.42.1]:5701 [dev] [3.2.4] Connection [/127.0.0.1:44028] lost. Reason: java.nio.BufferOverflowException[null]
Error from spy-memcached
2014-07-28 15:51:23.986 INFO net.spy.memcached.MemcachedConnection: Reconnecting due to exception on {QA sa=localhost/127.0.0.1:5701, #Rops=1, #Wops=0, #iq=0, topRop=Cmd: 1 Opaque: 1 Key: Report-1281-NULL-NULL Cas: 0 Exp: 0 Flags: 1 Data Length: 2796, topWop=null, toWrite=0, interested=1}
java.io.IOException: Disconnected unexpected, will reconnect.
at net.spy.memcached.MemcachedConnection.handleReads(MemcachedConnection.java:452)
at net.spy.memcached.MemcachedConnection.handleIO(MemcachedConnection.java:380)
at net.spy.memcached.MemcachedConnection.handleIO(MemcachedConnection.java:242)
at net.spy.memcached.MemcachedConnection.run(MemcachedConnection.java:836)
2014-07-28 15:51:23.987 WARN net.spy.memcached.MemcachedConnection: Closing, and reopening {QA sa=localhost/127.0.0.1:5701, #Rops=1, #Wops=0, #iq=0, topRop=Cmd: 1 Opaque: 1 Key: MarginRequirementsReport-1281-NULL-NULL Cas: 0 Exp: 0 Flags: 1 Data Length: 2796, topWop=null, toWrite=0, interested=1}, attempt 0.
2014-07-28 15:51:23.987 WARN net.spy.memcached.protocol.binary.BinaryMemcachedNodeImpl: Discarding partially completed op: Cmd: 1 Opaque: 1 Key: Report-1281-NULL-NULL Cas: 0 Exp: 0 Flags: 1 Data Length: 2796
Apparently, hazelcast.socket.receive.buffer.size and hazelcast.socket.send.buffer.size properties have nothing to do this this.
Please, advise