Hackers Steal $41.5 Million In Solana From a Swiss Crypto Exchange

SwissBorg, a wallet/exchange service, recently lost $41.5 million in Solana to a hack. Attackers compromised the firm’s SOL staking protocol, using a partner API as a vulnerability.

The company claims that the losses were isolated to this one service. Nonetheless, the theft still compromises a significant chunk of its Solana holdings. SwissBorg will attempt to partially refund its users, regardless of asset recovery.

ZachXBT, the famous crypto sleuth, has been warning of a “crime supercycle” for several months now, tracking massive hacks and international criminal organizations alike.

Today, he informed the community via Telegram that SwissBorg suffered a serious Solana hack. ZachXBT estimated about $41.5 million in total damages.

A few minutes later, the firm publicly acknowledged the incident, describing its account of the events. A partner API for SOL Earn, its Solana staking protocol, was compromised, enabling a significant asset drain:

KILN SOL Earn Incident & SwissBorg Recovery Plan

A partner API (Kiln) was compromised, impacting our SOL Earn Program (~193k SOL, <1% of users).