Solana News Today: Trusted Partner API Breach Exposes SwissBorg’s $41M Solana Stash

SwissBorg, a European-based crypto investment platform, disclosed a significant security breach involving its Solana (SOL) Earn program, resulting in the theft of approximately 193,000 SOL tokens, valued at around $41.5 million. According to on-chain investigator ZachXBT, the incident occurred on September 8, 2025, and was traced to a compromised partner API linked to the platform’s staking activities. The breach did not compromise the broader SwissBorg application or other user funds, which remain secure.

The platform identified the compromised account as “TYFWG3hvvxWMs2KXEk8cDuJCsXEYKs65eeqpD9P4mK1” and confirmed that only a small fraction of its user base—less than 1%—was affected. In a public statement on X, the company emphasized that its core operations are intact and that all other investment programs remain unaffected. A company representative, CEO Cyrus Fazel, clarified during a live broadcast that the breach originated from a trusted staking partner, not from an internal vulnerability. Fazel stressed that the stolen amount constitutes about 2% of the company’s total assets under management.

SwissBorg has outlined a recovery strategy involving the reallocation of its SOL Treasury to reimburse affected users, with further details pending finalization. The firm is also collaborating with white-hat hackers and security partners to trace and recover the stolen funds. Multiple exchanges have already frozen transactions from the compromised address, preventing full liquidation of the stolen assets. Fireblocks, Solana Foundation, and independent investigators are assisting in tracking the assets across multiple wallet addresses, according to the CEO.

Community responses to the breach have been mixed. Some users praised the platform’s transparency and swift communication, noting that security incidents are not uncommon in the crypto space. Others, however, expressed concern over the vulnerability of centralized platforms, even those with regulatory compliance and financial stability. SwissBorg, which holds a UK FCA license, has assured users that it remains financially sound and will continue its day-to-day operations without disruption.

The incident underscores the ongoing challenges of securing digital assets in an environment where both centralized and decentralized platforms remain susceptible to sophisticated attacks. Despite rigorous due diligence, external vulnerabilities can expose user funds, reinforcing the need for continuous improvements in security infrastructure and third-party oversight. SwissBorg has pledged to implement additional safeguards and collaborate with global law enforcement to prevent future breaches. The platform also plans to provide regular updates throughout the recovery process to maintain user trust and transparency.

Source: [1] Swissborg suffers a security breach on Solana, with over $41 million stolen (https://cryptorank.io/news/feed/176f5-swissborg-loses-41-5m-in-security-breach) [2] SwissBorg loses $41M in SOL after partner API compromise affects Earn program (https://cryptoslate.com/swissborg-loses-41m-in-sol-after-partner-api-compromise-affects-earn-program/)