Chick Finance: a new backdoor for DeFi

A new problem afflicts DeFi, and in particular the Chick.finance project.

By now the bugs related to decentralized finance are getting out of hand and every day there are new ones, only the last one happened yesterday on the YFV project.

In this period, in fact, many projects with wrong code in smart contracts are popping up, as reported by several users.

Chick.finance: a legitimate project?

Today’s bug afflicts the little known Chick.finance, which has an error page about the smart contract.

Chick Finance

In fact, it is precisely in the smart contract that we see, at line 350, a particular error in the „modifier“ function that, instead of showing the wording „public“, presents the wording „pub1ic“, misleading users about the characteristics of this smart contract.

Moreover, if we go to check the contract, we cannot see it because it is blurred and no longer public.

As for the token, Chick.Finance (CHICK) has a supply of 7500 CHICK and is distributed among a few addresses, so luckily it hasn’t succeeded in attracting many Bitcoin Millionaire people, although it must be said that the site was created only last August 20th.

As if this wasn’t already strange and suspicious, if we go to check one of the transactions related to this address, we can find out that the Tornado Cash system has been used to make it impossible to trace who is behind this system.

All this makes us think, in short, that this is a not very legitimate project.

DeFi like the ICOs?

Unfortunately we are witnessing a replica of what happened in 2017 with the ICOs with the creation of various projects and as many useless tokens which are often in reality scams.

Finally we can conclude that before using these platforms, especially if they are new, it is necessary to check if any audits have been done.