SwissBorg Loses $41M in Solana After Security Breach

SwissBorg has reported a major security incident, losing more than $40 million in Solana due to a compromised staking partner API.

• SwissBorg confirmed a $41M loss in Solana (192,600 SOL) from its Earn Program.
• The breach was linked to a staking partner API, not the SwissBorg app itself.
• The company plans to use its SOL treasury to cover user losses.
• SwissBorg is working with white-hat hackers and security firms to recover funds.
• Other SwissBorg Earn Programs and app-stored funds were not impacted.

Switzerland-based crypto platform SwissBorg disclosed on Monday that it lost roughly $41 million in Solana following a major security breach. According to the company, the attack was not tied to its main app but instead stemmed from a compromised API linked to one of its staking partners. The breach specifically targeted the SOL Earn Program.

Blockchain investigator ZachXBT reported that approximately 192,600 SOL was drained during the attack. SwissBorg quickly responded, pledging to use its Solana treasury reserves to help users recover a “significant portion” of their balances. The platform also said it is working with white-hat hackers and external security partners to recover compromised assets and aims to make all affected users whole.

In a statement posted on X, a SwissBorg spokesperson called it a “difficult day” for the company, emphasizing that its core app and other Earn Programs remain secure and unaffected.

The incident came at a time when the crypto industry was already on high alert due to a separate supply chain attack involving an NPM software developer, which prompted Ledger’s CTO to advise caution when conducting onchain transactions without a hardware wallet. Supply chain attacks exploit trusted software distribution processes rather than individual users, making them particularly difficult to detect.

Despite the breach, SwissBorg is moving quickly to restore confidence by reassuring users and committing treasury funds toward recovery efforts.

Final Thought

The $41 million Solana breach marks one of SwissBorg’s toughest security challenges yet. While its swift response and treasury-backed recovery plan may soften the blow, the incident underscores how third-party risks remain a major vulnerability in the crypto industry.