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Project Overview
HiFi is a lending protocol that allows anyone to borrow against their crypto. HiFi uses a bond-like instrument, representing an on-chain obligation that settles on a specific future date. Buying and selling the tokenized debt enables fixed-rate lending and borrowing.
HIFI Closes $37 Million Series A Funding Round Led by Left Lane Capital
According to The Block, New York-based stablecoin payment and tokenized asset company HIFI has announced the completion of a $37 million Series A financing round led by Left Lane Capital. Proceeds from the funding will be used to expand its tokenized capital market infrastructure and product lines. HIFI provides API infrastructure that integrates fund flows, compliance, and settlement capabilities, currently processing over $7 billion annually across 87 countries. Prior to this round, HIFI participated in a tokenized securities production trade co-hosted by DTCC, BlackRock, Goldman Sachs, and Nasdaq in July. Later this month, it partnered with Visa to extend its stablecoin settlement platform to remittance and card payment scenarios, initially supporting stablecoin settlements for more than 4 billion Visa cards globally.
Stablecoin infrastructure company HIFI completes $37 million Series A funding round, led by Left Lane Capital
stablecoin infrastructure company HIFI has completed a $37 million Series A funding round led by Left Lane Capital, with the specific valuation not yet disclosed. HIFI CEO Zach Walsh stated that this is the company's first priced funding round, and the platform currently processes approximately $7 billion in annualized direct transaction volume. The funding will be used to expand stablecoin payment products and tokenized capital markets infrastructure. HIFI currently supports fiat on/off ramps between USD and stablecoins, payments through the U.S. banking system and bank cards, and provides USD cash settlement services for tokenized repurchase agreements and U.S. Treasury transactions. HIFI has also previously participated in the Depository Trust & Clearing Corporation (DTCC)'s production trading tests for tokenized securities. (Cointelegraph)
Governance Takeover Attack Hits Hifi DAO, Preliminary Losses Estimated at About $20,000
According to Hifi Finance monitoring, Hifi Finance has disclosed that Hifi DAO suffered a governance takeover attack, and HIFI token holders have effectively lost control of the protocol, the governance smart contracts, and the HIFI token supply. The team reminded all users with collateral deposited in Hifi Protocol to withdraw immediately, and specifically requested the controllers of two relevant addresses to withdraw WETH from the protocol. Hifi Finance stated that the core team failed to detect and stop the governance attack in time and takes full responsibility for it. The team has now taken measures to significantly limit the scope of the attack's impact. The final loss has not yet been determined, with a preliminary estimate of about $20,000. The DAO treasury is sufficiently funded and will compensate all affected parties; the DAO's own liquidity has been permanently withdrawn from decentralized trading platforms. In addition, all outstanding debt collateralized by RWAs will be managed directly by the core team and will no longer be processed through the compromised smart contracts. The relevant debt remains adequately capitalized and is expected to be repaid in full on the original maturity date of March 26, 2027, and the protocol will not issue new debt. The team said a full investigation report will be released later.
HIFI Closes $37 Million Series A Funding Round Led by Left Lane Capital
According to The Block, New York-based stablecoin payment and tokenized asset company HIFI has announced the completion of a $37 million Series A financing round led by Left Lane Capital. Proceeds from the funding will be used to expand its tokenized capital market infrastructure and product lines. HIFI provides API infrastructure that integrates fund flows, compliance, and settlement capabilities, currently processing over $7 billion annually across 87 countries. Prior to this round, HIFI participated in a tokenized securities production trade co-hosted by DTCC, BlackRock, Goldman Sachs, and Nasdaq in July. Later this month, it partnered with Visa to extend its stablecoin settlement platform to remittance and card payment scenarios, initially supporting stablecoin settlements for more than 4 billion Visa cards globally.
Governance Takeover Attack Hits Hifi DAO, Preliminary Losses Estimated at About $20,000
According to Hifi Finance monitoring, Hifi Finance has disclosed that Hifi DAO suffered a governance takeover attack, and HIFI token holders have effectively lost control of the protocol, the governance smart contracts, and the HIFI token supply. The team reminded all users with collateral deposited in Hifi Protocol to withdraw immediately, and specifically requested the controllers of two relevant addresses to withdraw WETH from the protocol. Hifi Finance stated that the core team failed to detect and stop the governance attack in time and takes full responsibility for it. The team has now taken measures to significantly limit the scope of the attack's impact. The final loss has not yet been determined, with a preliminary estimate of about $20,000. The DAO treasury is sufficiently funded and will compensate all affected parties; the DAO's own liquidity has been permanently withdrawn from decentralized trading platforms. In addition, all outstanding debt collateralized by RWAs will be managed directly by the core team and will no longer be processed through the compromised smart contracts. The relevant debt remains adequately capitalized and is expected to be repaid in full on the original maturity date of March 26, 2027, and the protocol will not issue new debt. The team said a full investigation report will be released later.
Hifi Finance Suffers Governance Takeover by DAO, Approximately $1 Million in User Collateral Drained
According to on-chain researcher Spreek, DeFi protocol Hifi Finance suffered a DAO governance takeover. The attacker gained control through four last-minute votes funded by Tornado Cash, subsequently minted 25 million governance tokens, and drained user collateral assets worth approximately $1 million, most of which were RWA tokens.
Governance Takeover Attack Hits Hifi DAO, Preliminary Losses Estimated at About $20,000
According to Hifi Finance monitoring, Hifi Finance has disclosed that Hifi DAO suffered a governance takeover attack, and HIFI token holders have effectively lost control of the protocol, the governance smart contracts, and the HIFI token supply. The team reminded all users with collateral deposited in Hifi Protocol to withdraw immediately, and specifically requested the controllers of two relevant addresses to withdraw WETH from the protocol. Hifi Finance stated that the core team failed to detect and stop the governance attack in time and takes full responsibility for it. The team has now taken measures to significantly limit the scope of the attack's impact. The final loss has not yet been determined, with a preliminary estimate of about $20,000. The DAO treasury is sufficiently funded and will compensate all affected parties; the DAO's own liquidity has been permanently withdrawn from decentralized trading platforms. In addition, all outstanding debt collateralized by RWAs will be managed directly by the core team and will no longer be processed through the compromised smart contracts. The relevant debt remains adequately capitalized and is expected to be repaid in full on the original maturity date of March 26, 2027, and the protocol will not issue new debt. The team said a full investigation report will be released later.
HIFI Closes $37 Million Series A Funding Round Led by Left Lane Capital
According to The Block, New York-based stablecoin payment and tokenized asset company HIFI has announced the completion of a $37 million Series A financing round led by Left Lane Capital. Proceeds from the funding will be used to expand its tokenized capital market infrastructure and product lines. HIFI provides API infrastructure that integrates fund flows, compliance, and settlement capabilities, currently processing over $7 billion annually across 87 countries. Prior to this round, HIFI participated in a tokenized securities production trade co-hosted by DTCC, BlackRock, Goldman Sachs, and Nasdaq in July. Later this month, it partnered with Visa to extend its stablecoin settlement platform to remittance and card payment scenarios, initially supporting stablecoin settlements for more than 4 billion Visa cards globally.
Stablecoin infrastructure company HIFI completes $37 million Series A funding round, led by Left Lane Capital
stablecoin infrastructure company HIFI has completed a $37 million Series A funding round led by Left Lane Capital, with the specific valuation not yet disclosed. HIFI CEO Zach Walsh stated that this is the company's first priced funding round, and the platform currently processes approximately $7 billion in annualized direct transaction volume. The funding will be used to expand stablecoin payment products and tokenized capital markets infrastructure. HIFI currently supports fiat on/off ramps between USD and stablecoins, payments through the U.S. banking system and bank cards, and provides USD cash settlement services for tokenized repurchase agreements and U.S. Treasury transactions. HIFI has also previously participated in the Depository Trust & Clearing Corporation (DTCC)'s production trading tests for tokenized securities. (Cointelegraph)
Related news
Governance Takeover Attack Hits Hifi DAO, Preliminary Losses Estimated at About $20,000
According to Hifi Finance monitoring, Hifi Finance has disclosed that Hifi DAO suffered a governance takeover attack, and HIFI token holders have effectively lost control of the protocol, the governance smart contracts, and the HIFI token supply. The team reminded all users with collateral deposited in Hifi Protocol to withdraw immediately, and specifically requested the controllers of two relevant addresses to withdraw WETH from the protocol. Hifi Finance stated that the core team failed to detect and stop the governance attack in time and takes full responsibility for it. The team has now taken measures to significantly limit the scope of the attack's impact. The final loss has not yet been determined, with a preliminary estimate of about $20,000. The DAO treasury is sufficiently funded and will compensate all affected parties; the DAO's own liquidity has been permanently withdrawn from decentralized trading platforms. In addition, all outstanding debt collateralized by RWAs will be managed directly by the core team and will no longer be processed through the compromised smart contracts. The relevant debt remains adequately capitalized and is expected to be repaid in full on the original maturity date of March 26, 2027, and the protocol will not issue new debt. The team said a full investigation report will be released later.
Hifi Finance Suffers Governance Takeover by DAO, Approximately $1 Million in User Collateral Drained
According to on-chain researcher Spreek, DeFi protocol Hifi Finance suffered a DAO governance takeover. The attacker gained control through four last-minute votes funded by Tornado Cash, subsequently minted 25 million governance tokens, and drained user collateral assets worth approximately $1 million, most of which were RWA tokens.
HIFI Closes $37 Million Series A Funding Round Led by Left Lane Capital
According to The Block, New York-based stablecoin payment and tokenized asset company HIFI has announced the completion of a $37 million Series A financing round led by Left Lane Capital. Proceeds from the funding will be used to expand its tokenized capital market infrastructure and product lines. HIFI provides API infrastructure that integrates fund flows, compliance, and settlement capabilities, currently processing over $7 billion annually across 87 countries. Prior to this round, HIFI participated in a tokenized securities production trade co-hosted by DTCC, BlackRock, Goldman Sachs, and Nasdaq in July. Later this month, it partnered with Visa to extend its stablecoin settlement platform to remittance and card payment scenarios, initially supporting stablecoin settlements for more than 4 billion Visa cards globally.
Stablecoin infrastructure company HIFI completes $37 million Series A funding round, led by Left Lane Capital
stablecoin infrastructure company HIFI has completed a $37 million Series A funding round led by Left Lane Capital, with the specific valuation not yet disclosed. HIFI CEO Zach Walsh stated that this is the company's first priced funding round, and the platform currently processes approximately $7 billion in annualized direct transaction volume. The funding will be used to expand stablecoin payment products and tokenized capital markets infrastructure. HIFI currently supports fiat on/off ramps between USD and stablecoins, payments through the U.S. banking system and bank cards, and provides USD cash settlement services for tokenized repurchase agreements and U.S. Treasury transactions. HIFI has also previously participated in the Depository Trust & Clearing Corporation (DTCC)'s production trading tests for tokenized securities. (Cointelegraph)