Sep 2020 - CherryFi Contract Vulnerabilities - $Unknown (Global)
"$CF is born from the need for a platform that provides passive income, both with the native token and with the non-native ones, the objective we pursue is to provide investments with the possibility of generating these profits without suffering the devaluation of our token, for this we implement different mechanisms so that the price remains stable and does not collapse with sales."
"We have a defined roadmap, which includes the launch of the main website, different stages of token burning to control the price, marketing and finally the launch of the yield farming platform."
"Our idea is to carry out an early launch of the token and thus achieve the necessary financing to expand the development team, carry out the necessary marketing campaigns and what we consider most important is to give you, the investors who believe in the project, the possibility to make an early purchase of the token and then benefit in the long term when the price rises. We recommend holding the token since thanks to taxes the amount you have will grow as purchases or sales are made."
"It is understood that the CherryFi code has not been audited."
"The transfer logic of TRON's DeFi project CherryFi calls the safeTransfer function to perform specific transfer operations. However, the USDT transfer logic does not return a value, which causes the safeTransfer call to never succeed, which leads to the lockup of funds, and therefore users cannot perform USDT transfers in and out."
Further Analysis
It appears that CherryFi launched a platform which was broken and froze user's funds. It's unclear if the project got any traction. There is no website, and the GITbook site is directing to a separate Constellation Finance project.
How Could This Have Been Prevented?
Getting 2 separate independent validations (which in this case would most likely be audits) would prevent the issue.
More Cryptocurrency Exchange Hacks/Scams/Frauds
Eterbase Hot Wallets Breached > > < < SushiSwap Founder Withdrawal
Sources/Further Reading
SlowMist Hacked - SlowMist Zone (Nov 6)
»CherryFi (CF)« —║DEFI TOKEN║—-Fair launch ->( 2nd of June 23:00 (UTC) ) : CryptoMars (Dec 17)
CHERRYFI Holders (Dec 17)
 t.me/QuadrigaInitiative
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 /r/QuadrigaInitiative
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 @QuadrigaInit
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 info@quadrigainitiative.com
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