SwissBorg’s Stolen Solana Funds Spur Hunt Across Blockchain

Generated by AI AgentCoin World
Tuesday, Sep 9, 2025 1:53 am ET1min read
SOL
--
SUI
--
Aime RobotAime Summary

- SwissBorg reported a $41.5M Solana theft via a compromised partner API, affecting its SOL Earn Program but not core operations.

- The platform pledged full user compensation using treasury funds and engaged cybersecurity experts to recover stolen assets.

- The breach exposed vulnerabilities in third-party dependencies, coinciding with broader crypto attacks totaling $2.4M on Sui and npm.

- SwissBorg emphasized financial stability, ongoing operations, and enhanced security measures while collaborating with law enforcement.

SwissBorg, a Switzerland-based cryptocurrency platform, announced on September 8, 2025, that it had suffered a significant security breach resulting in the loss of approximately $41.5 million in

Solana
(SOL) tokens. The incident was attributed to a compromised partner API used in its SOL Earn Program. According to the platform’s CEO, Cyrus Fazel, the breach did not involve the company’s main application or other staking programs, which remain unaffected. The stolen assets, totaling around 192,600 SOL, represent approximately 2% of the company’s total assets under management (AUM) [2].

SwissBorg’s official response emphasized its commitment to full user compensation. The platform has allocated funds from its SOL treasury to cover the majority of user losses, with final compensation amounts expected to be confirmed shortly. Additionally, SwissBorg has engaged white-hat hackers and cybersecurity experts to track and recover the stolen funds using blockchain analysis and cooperation with exchanges [1]. The company noted that several exchanges have already blocked transactions linked to the incident, preventing the immediate liquidation of the stolen assets [2].

The breach highlights the vulnerability of even well-regarded platforms when relying on external partners for staking and API services. Fazel acknowledged that the attack came from a “provider that was unfortunately compromised,” despite the platform’s rigorous due diligence in partner selection [2]. This incident has reinforced the importance of multi-layered security protocols and continuous monitoring of external dependencies in the cryptocurrency space.

The event coincided with a broader wave of cyber attacks across the cryptocurrency ecosystem. On the same day, the Nemo Protocol on the

Sui
blockchain suffered a $2.4 million exploit, and the npm software supply chain was compromised, potentially affecting millions of JavaScript users [3]. Security experts have urged users to exercise caution when executing on-chain transactions and to verify hardware wallet confirmations until patches are deployed. These attacks underscore the growing complexity and scale of threats targeting both decentralized and centralized platforms.

SwissBorg has assured its users that the company remains financially stable and capable of fulfilling its commitment to compensation. Fazel reiterated that the firm has the resources to cover the losses and will continue normal operations. The platform has also pledged to implement additional security measures to prevent future incidents and is collaborating with law enforcement agencies globally [2].

The community response has been mixed, with many expressing concern but also appreciation for the transparency and accountability demonstrated by the SwissBorg team. Fazel emphasized that the company’s mission is to rebuild trust through open communication and proactive recovery efforts. Regular updates on the status of fund retrieval are expected to be provided to users moving forward.

Source:

[1] title1 (https://www.theblock.co/post/369924/swissborg-crypto-platform-robbed-of-over-40-million-in-solana)

[2] title2 (https://cryptoslate.com/swissborg-loses-41m-in-sol-after-partner-api-compromise-affects-earn-program/)

[3] title3 (https://cryptonews.com/news/swiss-crypto-platform-swissborg-hit-by-41-5m-sol-hack-after-partner-api-compromise/)