Gelt Finance, Inc.

Gelt Finance operates as a non‑custodial decentralized finance platform whose primary function is to convert user‑deposited assets into stablecoins. The company is headquartered in the United States of America, which serves as the legal and operational base for its activities. By holding no custody of user funds, Gelt Finance relies on smart‑contract protocols to facilitate the conversion process while users retain control of their private keys. The service targets individuals seeking exposure to stablecoin yields without relinquishing asset ownership to a centralized intermediary. Its product suite is built around the principle of providing transparent, on‑chain conversion mechanisms that can be integrated with various DeFi ecosystems. The platform’s market focus appears to be on retail participants who value self‑custody and the stability offered by pegged digital currencies.

In July 2022, Gelt Finance disclosed an unauthorized access incident that compromised a range of sensitive user information, including names, email addresses, salted password hashes, government‑issued identification images, financial transaction histories, bank names, and copies of bank statements. Upon detection, the company isolated the affected server, shifted operations to backup infrastructure, and rotated all third‑party API keys to limit further exposure. External cybersecurity experts were engaged to conduct a forensic investigation and to advise on remediation steps. Affected individuals were notified only after the breach was confirmed, and the company stated that no evidence of data exfiltration was found during the investigation. Gelt Finance also communicated that, while it would offer potential financial protections for accounts impacted by the event, the exposed data still posed risks of identity theft or fraud for users. The incident highlighted the platform’s reliance on robust security practices and prompted a review of its internal controls and incident‑response procedures. As a non‑custodial DeFi service, Gelt Finance continues to emphasize user control of assets while working to strengthen the safeguards surrounding personal data.