Swiss crypto platform SwissBorg suffered a $41 million theft when attackers compromised a partner API, draining approximately 193,000 SOL from the company’s Earn program and affecting roughly 1% of users.
CEO Cyrus Fazel addressed the incident during a Sept. 8 live broadcast, confirming that SwissBorg’s main application remains secure while emphasizing the company’s commitment to full user compensation.
The breach occurred through what Fazel described as “one of the best partners in the world” for staking services. He added:
“SwissBorg has not been hacked. There is an external attack from a provider that was unfortunately compromised.”
According to Fazel, the stolen funds represent approximately 2% of SwissBorg’s total assets under management (AUM).
The company immediately allocated treasury funds to cover user losses, with Fazel stating the company possesses sufficient resources for complete reimbursement.
The platform also engaged white-hat hackers and security part
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