A vulnerability at one of SwissBorg’s service providers has led to one of the largest Solana-related thefts this year.
Roughly 193,000 SOL – valued around $41.5 million – vanished after attackers exploited an integration provided by Kiln, a partner handling SwissBorg’s staking infrastructure.
The discovery was first brought to light by blockchain investigator ZachXBT, who traced the flow of funds on-chain. SwissBorg later confirmed the incident, stressing that the exploit was contained within its Solana Earn product and did not spill over into its core app or other yield offerings.
Compensation Measures on the Table
Rather than pass the damage to customers, SwissBorg said it would dip into its own treasury to restore most user balances. Security teams and white-hat hackers have also been enlisted in an attempt to track the stolen tokens and recover what’s possible. The company insisted its finances remain sound and that everyday operations continue without interruption.
SwissBorg promised direct outreach to anyone impacted, with detailed explanations arriving by email. To further reassure clients, CEO Cyrus Fazel scheduled a live YouTube broadcast to discuss the situation openly with the community.
What Comes Next
Although user losses will largely be covered, the breach underscores the risks of relying on third-party infrastructure in crypto staking programs. For SwissBorg, a platform often marketed on trust and transparency, the incident marks a major test of its ability to protect customer confidence while tightening security partnerships going forward.
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Source: https://coindoo.com/bitcoin-app-swissborg-just-got-hit-with-a-41m-solana-hack/