Chain Knife

The Chain Knife is a new weapon introduced in version 1.2. It can be found from Cave Bats as a rare drop, and from chests. The Chain Knife has a very short range of only twelve blocks. However, its quick use time and velocity makes it a very excellent early to mid game weapon. It is good at killing quick flying monsters.

It is similar to flails and the harpoon weapon in the fact that while the weapon is retracting to the player it can deal additional damage to monsters caught in it's path.

Also due to a bug it can be dropped from chaos elementals.