SwissBorg Faces $41 Million Theft from Partner API Compromise
- SwissBorg suffered a theft of $41 million, losing approximately 193,000 SOL from its Earn program.
- The incident affected around 1% of users and represents about 2% of SwissBorg’s total assets under management (AUM).
- CEO Cyrus Fazel confirmed that the main application remains secure and pledged full user compensation.
- Multiple exchanges blocked transactions related to the attack, aiding in tracking the stolen funds.
- SwissBorg is collaborating with white-hat hackers and security partners to recover the compromised funds.
The breach was attributed to an external attack on a partner API used for staking services, highlighting vulnerabilities in third-party integrations. SwissBorg plans to enhance security measures and maintain transparent communication during the recovery process.
Despite the significant loss, SwissBorg’s financial health remains stable, with CEO Fazel emphasizing their ability to fully reimburse affected users for the stolen SOL. (Source)
