SwissBorg Hit by $41 Million Solana Heist After Kiln API Breach

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The Swiss digital asset wealth-management platform SwissBorg fell victim to an API attack after hackers compromised an API belonging to its staking partner, Kiln. The breach only targeted SwissBorg’s Solana Earn product, which saw hackers siphoning off approximately 193,000 Solana tokens, valued at around $41 million.

SwissBorg confirmed its app and other Earn services were unaffected. Under 1% of the customer base and roughly 2% of total assets under management were affected. CEO Cyrus Fazel described the incident as “a bad day,” but reassured users that the company’s financial health and daily operations remain solid.

The stolen funds were traced to a wallet flagged on Solscan as “SwissBorg Exploiter 1.” Users are strongly advised to exercise caution when interacting with this address. 

SwissBorg pledged to reimburse affected clients using its own Solana treasury, stating it has the resources needed to do so. The company is also actively collaborating with white-hat hackers, international agencies, exchanges, and blockchain investigators to contain the breach, recover funds, and block related transactions.

The incident highlights how any vulnerability poses a risk of exploitation by hackers, and the huge sums that could be lost in the event of a successful attack.