Hinkal Protocol
Zero-knowledge proof-based privacy middleware for blockchain transactions
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About Hinkal Protocol
Hinkal Protocol is a decentralized privacy protocol supporting multiple chains including Ethereum, Solana, and TRON. It uses zero-knowledge proofs (zkSNARKs) to hide the sender, recipient, and amount of a transaction. Users operate with their existing wallets, and assets remain non-custodial. Its core feature is "full privacy": all three transaction elements are hidden, while built-in compliance tools such as Chainalysis KYT screening and viewing keys allow authorized parties to audit transactions when needed, balancing privacy with regulatory requirements. The protocol charges a fee of 0.10% per transaction.
The market pain point is that public chains expose transaction details by default, putting institutions and enterprises handling large funds at risk of privacy leakage, while traditional privacy solutions often fail to meet anti-money laundering and other regulatory demands. Hinkal addresses this through a "privacy + compliance" design, enabling institutions to conduct on-chain operations without revealing transaction details while retaining auditability.
In the past six months, on July 2, 2026, Hinkal suffered a double-spend attack resulting in the loss of approximately $800,000 in assets, caused by a flaw in the legacy note format that allowed the same deposit to be spent multiple times. The team promptly paused the affected smart contracts and committed to reimbursing all affected users. The recovery timeline has not yet been announced.
Key progress over the past six months:
Security incident and recovery: On July 2, 2026, a single smart contract on Ethereum was attacked. The team promised 1:1 compensation for affected users and paused all contracts. On July 16, contracts were redeployed and independently audited, with services restored on Polygon, Ethereum, Base, and Arbitrum; Solana and Tron followed later.
Hinkal Pay launched on BNB Chain: private holding, transfers, and batch payments for BNB and stablecoins, with users retaining self-custody.
Integration with Openfort: a privacy layer on Openfort's wallet infrastructure, enabling private balances, transfers, swaps, and batch payments, plus selective disclosure via viewing keys.
Tempo launch: private swaps and payments for PathUSD, USDT0, and USDC.e, with ZK verification, non-custodial operation, and Chainalysis KYT screening before settlement.
Hinkal MCP: allows AI tools and agents such as Claude and Cursor to execute private stablecoin payments via natural language.
Future focus: build a universal privacy layer for stablecoins through Hinkal Suite (Pay, Prime, Wallet), expand multichain support on Solana, TRON, and EVM networks, and potentially add more chains and assets, strengthen security audits, and enhance wallet permission controls.
Co-founders and core executives:
Georgi Koreli (CEO & Co-founder): Holds an MBA from Stanford and a Master's in Sustainability. Former professional judo/sambo athlete and investment banker at VTB Capital. Became CEO and co-founder in 2023, led a ~$6M seed round, and founded the community organization SV Icons.
Nika Koreli (CTO & Co-founder): PhD in Computational Economics from the University of Warwick. Previously a research fellow, university teaching fellow, and software engineer. With 12+ years of Web3 product experience, has served as CTO and co-founder since 2022, leading Hinkal's privacy protocol R&D.
George Shanidze (Chief Culture Officer): Holds a BS in Finance and Economics from Saint Louis University. Joined Hinkal in 2024 for marketing and operations, and has served as CCO since 2025, overseeing HR and company culture.