Chessfarm.Tech Hack

Investors of the Chessfarm.Tech project were betrayed due to the project deployers privileged withdrawal access, which enabled the deployer to extract approx. $167k from the project.

The Chessfarm.Tech project was a DEX, deployed on the Binance Smart Chain. The project promised to have tackled problems such as hyperinflation and price dumping through its new fair chess distribution. Only 5% of the staking rewards were supposed to go towards the team in order to fund further developments.

The contract deployer added initial liquidity at:

https://www.bscscan.com/tx/0xe2fd4137…426f0b

and made the $CHESS token tradable on pancake swap.

Merely 5 days later the contract deployer used a hidden migration functionality under the reduceReward() function, by invoking it, the deployer received all deposited tokens from the staking smart contract, as can be seen in the following example transactions:

https://www.bscscan.com/tx/0xeefee4f7…8d430d

https://www.bscscan.com/tx/0x4abde5e6…267ee3

The received tokens were then sold by the contract deployer as can be seen in the example transaction:

https://www.bscscan.com/tx/0x777cb336…eb50b1

The deployer managed to gain around $BNB 4000 and decided the funds for Binance BTC tokens at:

https://www.bscscan.com/tx/0xd68620c0…62f4e8

The received $BTCB were distributed between different external addresses and deposited into Binance exchange, here an example:

https://www.bscscan.com/address/0x4bf9af80…c89947#tokentxns

The deployer also made sure to remove the liquidity in order to maximize his profit:

https://www.bscscan.com/tx/0x52f89a24…7229a2

Example Transactions (Reduce Rewards)

https://www.bscscan.com/tx/0x50b1a159…22f447

https://www.bscscan.com/tx/0xfff49ffe…edcd40

https://www.bscscan.com/tx/0x84ddf423…1f93d5

https://www.bscscan.com/tx/0x80611a1a…24b18f

https://www.bscscan.com/tx/0x2b1818c9…e366f1

Example Transaction (Deployer Dumping)

https://www.bscscan.com/tx/0x353ce25e…e4e569

https://www.bscscan.com/tx/0xaaf8648a…f391d4

https://www.bscscan.com/tx/0x604533dd…49b698

https://www.bscscan.com/tx/0xebbf66a6…4c79b3