馃敀 Hinkal Pay Redesign
馃敀 Hinkal Pay Redesign
馃攼 Privacy payments rebuilt
Hinkal Pay has been redesigned following a security incident and full contract redeployment. The updated interface makes privacy features more accessible across Ethereum, Base, Arbitrum, and Polygon networks.
Key features:
- Shield/unshield funds between public and private balances
- Private transfers where sender, recipient, and amounts remain confidential
- Batch payments to multiple addresses in one transaction
- Payment requests via link or QR code
- Cross-chain bridging with private or public options
- Asset tracking with improved token breakdown
All deposits are screened by Chainalysis KYT while users maintain custody. Support for Solana, TRON, Tempo, Arc and Sepolia networks coming next. The redesign follows an Ethereum contract vulnerability that was fixed and audited by zkSecurity.
Update on the security incident: The incident was isolated to a single smart contract on Ethereum. Deployments on all other chains were not affected. As a precaution, all smart contracts remain paused while the investigation continues. The team has identified a preliminary
This week, we will begin returning funds to everyone who has completed the recovery process. If you have already gone through the process, there is nothing more you need to do. All returns are expected to be completed by Wednesday, July 22. Your funds will be returned in full.
Update on the security incident Before we go into detail: no user will lose funds. Everyone affected by this incident will be made whole, 1:1. We will share the details of that process in the next updates. What we know: starting on 2 July at 19:05 UTC an attacker was able to
Hinkal is back Our EVM (Polygon, Ethereum, Base, and Arbitrum) contracts have been redeployed, independently audited, and are now live. You can resume using Hinkal Pay & Prime as normal, starting today. Solana, Tron, APIs and Hinkal Wallet will follow over the next few days.
We are aware of reports regarding unusual activity involving USDC on Ethereum within Hinkal. No other chains are affected. As a precautionary measure, the affected contracts have been paused while our engineering team investigates and analyzes the on-chain activity in full. The
The New Hinkal Pay We redesigned Hinkal Pay around how you actually use it. It is more intuitive and brings the full range of its features to the surface, making them easier to find and use. Shield and unshield, send, bridge, swap, receive, and hold funds confidentially across
Security incident Update | Next Steps for Hinkal Users As we shared in our previous update, we are committed to fully reimbursing every user affected by the recent security incident. However, this update also applies to users whose funds were not affected. The incident itself
Hinkal Wallet Requires Migration from Legacy Accounts
Hinkal Wallet is phasing out legacy account types and requiring affected users to migrate. **Action Required:** - Update to the latest Hinkal Wallet version - Reopen the extension to check for migration notice - If no notice appears, no action needed **Migration Steps for Legacy Users:** 1. Copy and securely save all private keys 2. Remove Hinkal Wallet (don't uninstall until keys are saved) 3. Reinstall using official links 4. Create new wallet through onboarding 5. Import saved private keys to restore addresses **Security Reminder:** Never share private keys with anyone. Hinkal will never request them. This follows December's announcement about adding private key import/export support for public accounts.
Institutions Need Privacy and Compliance to Bring Flow On-Chain
Stablecoin adoption and regulatory frameworks are advancing together, both dependent on institutional capital flow. Institutions require two critical elements to move on-chain: - **Privacy** - Trading positions, treasury operations, and counterparty relationships must remain confidential and cannot exist on public ledgers - **Compliance** - Regulated institutions need sanctions screening, audit trails, and reporting capabilities These requirements are not mutually exclusive. Regulators demand selective disclosure to appropriate parties at the right time, achieved through viewing keys and Know Your Transaction (KYT) monitoring. **Compliant privacy** means confidentiality and compliance can coexist simultaneously. A panel discussion in Palo Alto on June 2 will explore this framework, featuring representatives from [Merkle Science](https://merkle.science), Crossmint, Centrifuge, Arca, Wave Digital, and Mento Labs.
Hinkal Pay Launches Private Crypto Payments with Compliance Controls
**Hinkal Pay** has launched, enabling businesses and consumers to settle transactions with full confidentiality. **Key Features:** - Sender, recipient, and amounts remain private on-chain - Works with existing wallets, chains, and stablecoins - Supports confidential sending, receiving, and payouts - Maintains compliance through Chainalysis screening **How It Works:** Funds move to a confidential balance within Hinkal's smart contract, controlled by the recipient's existing wallet. Recipients can execute private payouts to vendors, employees, or partners, or send to public wallets while keeping the sender private. **Availability:** - Live on Ethereum, Base, Arbitrum, Polygon, Arc, and Optimism - Supports USDT, USDC, DAI, and ETH - All transactions screened before execution; high-risk addresses blocked The service builds on Hinkal's earlier Private Send feature, which enabled private top-ups for non-custodial crypto cards through Ether.fi integration.
Hinkal Introduces Compliance-Ready Privacy Layer for Institutional DeFi
**Hinkal has developed a privacy solution that addresses institutional needs while maintaining regulatory compliance.** The platform distinguishes itself through built-in verification hooks that allow institutions to execute private transactions without sacrificing audit trails. This approach solves a critical problem: institutions require privacy to protect trade strategies and prevent front-running, but compliance teams have historically rejected privacy tools that appear designed for illicit activity. **Key features include:** - ZK proofs for transaction privacy - Stealth addresses for user anonymity - UTXO pools on EVM chains - Multiple users operating through single addresses with zero information leakage The architecture was presented at Devcon Argentina by Hinkal's CTO, demonstrating enterprise-grade privacy that integrates seamlessly with existing DeFi protocols. The solution represents a shift from earlier privacy tools by prioritizing compliance alongside anonymity. Research credit: [@KeyringResearch](