Centrifuge

Centrifuge receives a B- risk grade (33/100) from Hindenrank, where lower scores indicate lower risk. Moderate risk — pioneering real-world lending on-chain at $1.4B scale, but loan defaults are messy and recovery depends on off-chain courts, not code A platform that brings real-world loans onto the blockchain, letting you invest in private credit like business loans and invoices. It manages $1.4B and has raised $54M in funding. Its C+ grade reflects the reality that when borrowers default, recovery depends on lawyers in foreign countries, not smart contracts.

The key risks identified for Centrifuge are: (1) These are real loans to real companies. A 2023 default already showed the vetting process had weaknesses. If several borrowers fail at once, even the 'safe' senior tranche loses money (2) The on-chain price tracker can show your loan is worth $1 even when the borrower has stopped paying. You could be trapped while informed investors quietly exit at full value (3) If a borrower defaults, you need lawyers in their country to chase the money. Cross-border legal recovery can take years and often returns pennies on the dollar

Centrifuge scores 33/100 across eight risk dimensions: Mechanism Novelty: 6/15, Interaction Severity: 6/20, Oracle Surface: 2/10, Documentation Gaps: 2/10, Track Record: 3/15, Scale Exposure: 7/10, Regulatory Risk: 7/10, Vitality Risk: 0/10. The highest risk area is Scale Exposure at 7/10.

Among 72 rated RWA protocols on Hindenrank, Centrifuge ranks #23 by safety (lowest risk score = safest). Its 33/100 risk score and B- grade place it among the safer RWA protocols.

Centrifuge scores 3/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.