SwissBorg Loses $41.5 Million in SOL from External Wallet Exploit
SwissBorg reported a theft of 192,600 SOL (approximately $41.5 million) from an external wallet linked to its SOL Earn strategy.
- The exploit was due to a compromised API from a partner, not a breach of the SwissBorg platform.
- Fewer than 1% of users were affected, representing about 2% of SwissBorg's total assets.
- Other funds and strategies are secure; user balances in the app remain unaffected.
- SOL Earn redemptions are paused during recovery efforts.
- SwissBorg will cover any losses, working with white-hat hackers, security firms, and law enforcement for recovery.
- A full incident report will be provided after investigations conclude.
This incident comes amid rising crypto thefts, totaling over $2.17 billion in 2025.