So, SwissBorg, this fancy Swiss crypto wealth management platform, decided to have a little “oopsie” moment on Sept. 8. Turns out, some genius hackers found a vulnerability in their partner’s API and walked away with a cool $41 million in SOL. 🤑🔥 What’s that sound? Oh, just the sound of Larry David saying, “Curb your enthusiasm… for security.”
- SwissBorg lost $41M in SOL because, you know, APIs are basically digital piñatas. 🎉
- Only 1% of users got the short end of the stick, but hey, the treasury’s got their back. 🤷♂️
- Moral of the story? APIs are the new “leave the door unlocked.” 🚪🔓
The company spilled the beans on X the same day, assuring everyone that their core systems are as secure as a fortress… or at least that’s what they want us to believe. 🏰
Kiln’s API: The Weakest Link
Turns out, the whole fiasco was thanks to SwissBorg’s buddy Kiln. Hackers waltzed in, manipulated the API connection for the Solana (SOL) Earn program, and made off with 192,600 SOL tokens. That’s $41 million, folks. The wallet’s now labeled ‘SwissBorg Exploiter’ on Solscan. Classy. 🕵️♂️💼
SOL Earn Incident & SwissBorg Recovery Plan
A partner API got hacked, impacting our SOL Earn Program (~193k SOL, <1% of users).
👉 But hey, the SwissBorg app is still as secure as a Swiss bank vault… allegedly. 🏦Our recovery plan? Cross your fingers and hope for the best. 🤞
– SwissBorg (@swissborg) September 8, 2025
The stolen funds? Almost half of SwissBorg’s Solana reserves. Ouch. But don’t worry, only 1% of users got the short straw. The rest of the Earn products? Totally fine. 🙌
SwissBorg’s “We’ve Got This” Plan
SwissBorg’s CEO, Cyrus Fazel, called it “a bad day, but not a fatal one.” Yeah, sure, just a $41 million flesh wound. 🩹 They’re using their own treasury to cover the losses, because what’s a few million between friends? Meanwhile, they’re teaming up with blockchain investigators, white-hat hackers, and security partners to track down the loot. Good luck with that. 🕵️♂️🔍
Exchanges are blocking some transactions, and SwissBorg’s promising to beef up security. Because, you know, hindsight’s 20/20. 🔒
Crypto’s Never-Ending Security Circus
This hack’s just the latest in a string of September exploits. Nemo Protocol lost $2.4 million, and now this. APIs are the new black in the world of crypto vulnerabilities. 🖤
SwissBorg’s transparency? A+. Their commitment to reimbursing users? Admirable. But let’s be real, this is just another reminder that DeFi is like the Wild West… with more hackers. 🤠💻
For updates, check their X account. Or just sit back and enjoy the chaos. 🍿
Read More
- FLR PREDICTION. FLR cryptocurrency
- CRO PREDICTION. CRO cryptocurrency
- Brent Oil Forecast
- Shiba Inu’s Death Cross: A Drama Queen’s Fakeout 🎭💰
- USD HKD PREDICTION
- Ethereum Staking: From Panic to Party Time! 🎉💰
- USD INR PREDICTION
- HBAR PREDICTION. HBAR cryptocurrency
- Will Crypto Soar as Fed Cuts Rates? 🚀💰
- ENA PREDICTION. ENA cryptocurrency
2025-09-09 06:32