Rain Financial (Crypto Card Infrastructure)
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 58 → 76. Problems weighed by who is responsible: concerns that are not fraud −6.4, incidents the subject suffered −6, problems around the subject, caused by others −1.2; legitimacy credit long-running +10, regulated +5. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -6.4 |
| Incidents it suffered (e.g. hacks) | -6 |
| Problems around it, caused by others | -1.2 |
| Long-running | +10 |
| Regulated | +5 |
| Sum | 66 |
Score: 76/100 (kept between 0 and 100)
How scoring works →Summary
Rain (legal entity: Signify Holdings, Inc.) is a New York-headquartered fintech company founded in 2021 that provides stablecoin-powered card issuing and payments infrastructure to enterprises, neobanks, and developers. The company is a Visa and Mastercard Principal Member, serves over 200 enterprise partners, and processed roughly $3 billion in annualized transactions as of early 2026. In August 2026, an authorization flaw in an outdated Rain Solana smart contract was exploited, draining approximately $1.1 million from card-collateral accounts across multiple partner programs; Rain upgraded all affected contracts and partner programs reimbursed affected users in full.
Connected Entities
7 entities · 60 linked investigations- Ethereum→mentioned with→Coinbase(60%)
- Rain Financial (Crypto Card Infrastructure)→mentioned with→Ethereum(65%)
- Rain Financial (Crypto Card Infrastructure)→mentioned with→Avalanche(60%)
- Rain Financial (Crypto Card Infrastructure)→mentioned with→Coinbase(60%)
- Rain Financial (Crypto Card Infrastructure)→mentioned with→Solana(70%)
- Avici→mentioned with→Solana(70%)
- Rain Financial (Crypto Card Infrastructure)→mentioned with→Avici(70%)
- Rain Financial (Crypto Card Infrastructure)→mentioned with→Rain(70%)
- Rain→mentioned with→Rain Financial (Crypto Card Infrastructure)(80%)
- Avalanche→mentioned with→Ethereum(70%)
- + 6 more
Timeline(10 events)
1 January 2021
Rain (Signify Holdings, Inc.) founded by Farooq Malik and Charles Naut in New York City.
Crunchbase / Rain official1 March 2025
Rain closes $24.5 million Series A funding round led by Norwest Venture Partners.
Rain official blog1 September 2025
Rain closes $58 million Series B funding round led by Sapphire Ventures.
Sapphire Ventures blog9 January 2026
Rain announces $250 million Series C led by ICONIQ, valuing the company at $1.95 billion. Total funding exceeds $338 million.
PR Newswire1 April 2026
Rain announces strategic partnership with Episode Six for card processing in Asia-Pacific.
Rain official blog4 May 2026
Rain announces Mastercard Principal Member status and plans to issue cards on Mastercard network.
Fortune28 August 2026
Attacker exploits an authorization flaw in an outdated Rain Solana card-collateral smart contract, draining approximately $1.1 million across at least four card programs including Avici ($500,859 / 1,685 users) and Tria ($431,945 / 636 users). Funds bridged to Ethereum and deposited into Tornado Cash; not recovered.
CoinDesk / crypto.news / Blockaid30 August 2026
Avici confirms all 1,685 affected users refunded in full with an additional 10% cashback. Rain upgrades all programs running the vulnerable contract version.
AMBCrypto5 September 2026
DeFi Prime analysis notes that a single plaintext signing key had controlled upgrade authority on the three drained Rain programs until this date.
DeFi PrimeDecision Log
- slot 455370097 · hash 8vV6Z7HzYxshFLpcHJDNUWUAFNdAf24vUTqs7jkPiVp8
- slot 447302418 · hash DNVFzxkb51NdovSM6vPZiQ1M2LZ38f3Ez147wTwWmH5h
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 18 of 19 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 9/15/2026, 5:04:02 PM
last updated: 10/10/2026, 6:49:57 PM
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