SwissBorg crypto platform robbed of over $40 million in Solana
Switzerland-based crypto platform SwissBorg said Monday it lost about $41 million worth of Solana due to a security breach."This is a difficult day for SwissBorg," a company spokesperson said in a video posted on X, who added that the breach didn't involve the company's app but rather a staking partner. Apparently, "a partner API was compromised," leading to an attack on its SOL Earn Program.Online sleuth ZachXBT said Monday that SwissBorg lost approximately 192,600 SOL ($41.3 million).SwissBorg said it planned to use its SOL treasury to help users "recover a significant portion of their balance," and that amounts would soon be finalized. The company also said that it had engaged "white-hat hackers and security partners to recover compromised funds with the goal of making all users whole."The news of the multimillion-dollar breach came amid another major scare in crypto. On Monday, the compromise of an NPM software developer led to a supply chain attack. Recognizing the threat, Ledger CTO Charles Guillemet recommended that people not using hardware wallets temporarily cease executing onchain transactions.A supply chain attack involves a hacker or hackers compromising a trusted part of the software distribution process rather than targeting individual users.SwissBorg said Monday's breach has not affected "other Earn Programs" or funds stored in the company's proprietary App.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.