SwissBorg Hacked: $41M in Cryptocurrency Stolen
SwissBorg has reported a significant cyber incident, resulting in the theft of $41 million worth of crypto. The attack, which occurred on the SwissBorg platform, targeted a partner company's API and resulted in the loss of 192,600 Solana (SOL) coins.
SwissBorg has paused Solana staking transactions while investigating the incident alongside Kiln. The breach was traced back to Kiln's API, which hackers exploited to steal the funds. The stolen funds represent a small fraction of SwissBorg's total assets, around 2%, but affected about 1% of its users.
SwissBorg is working diligently to recover the stolen crypto and compensate affected users. They have engaged with law enforcement and security partners to address the incident. Although the specific security firms involved were not disclosed, SwissBorg has assured users that they are collaborating with industry experts to resolve the issue. This incident comes on the heels of another cryptocurrency platform in Turkey losing $49 million in a similar attack just last month. According to Chainalysis, more than $2 billion in cryptocurrency has been stolen by hackers in the first half of 2025.
SwissBorg has taken immediate action to address the security breach and is committed to recovering the stolen crypto and compensating affected users. The incident serves as a reminder of the ongoing security challenges faced by the cryptocurrency industry, with over $2 billion in cryptocurrency stolen by hackers in the first half of 2025 alone.
