SwissBorg Confirms Major $41 Million Solana Breach
Swiss-based crypto platform SwissBorg has confirmed a staggering $41 million loss following a security breach tied to its staking partner. According to early estimates, the platform lost nearly 192,600 SOL after attackers exploited a compromised partner API. The incident primarily affected SwissBorg’s SOL Earn Program, though the company reassured customers that its main app and other earn products were not impacted.
“This is a difficult day for SwissBorg,” a spokesperson said in a video statement on X, emphasizing that the breach was isolated to a third-party integration. The company immediately froze affected services and launched an investigation into how attackers gained unauthorized access.
Blockchain Sleuths Uncover the Scale of the Attack
Blockchain investigator ZachXBT was among the first to identify the magnitude of the breach, reporting that SwissBorg lost approximately $41.3 million worth of Solana. His findings quickly circulated across the crypto community, sparking broader discussions about the vulnerabilities of third-party staking arrangements.
The loss represents one of the largest Solana-related hacks in 2025, undermining confidence in how staking platforms manage partner integrations. Analysts argue that while decentralized finance has improved in transparency, reliance on external APIs still creates exploitable weak points.
User Balances to Be Partially Recovered
In an effort to restore user confidence, SwissBorg announced plans to deploy its own Solana treasury to cover a “significant portion” of user losses. Final recovery amounts are still being calculated, but the firm expressed confidence that affected customers will not face the full brunt of the losses.
SwissBorg has also engaged with white-hat hackers and external security experts to trace and potentially recover the compromised funds. The move signals the platform’s intent to collaborate with the broader security community to minimize damage and rebuild trust among its users.
Wider Crypto Industry Faces Ongoing Security Threats
The SwissBorg hack occurred amid a wave of security concerns within the crypto industry. On the same day, a compromised NPM developer account triggered a supply chain attack that rippled across multiple blockchain projects. The simultaneous events raised alarms over systemic risks tied to both infrastructure providers and external integrations.
Ledger CTO Charles Guillemet even recommended that users not relying on hardware wallets temporarily halt onchain transactions. His warning highlighted the increasing sophistication of supply chain attacks, where hackers infiltrate trusted parts of the software delivery process rather than directly targeting users.
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Partner API Vulnerabilities Under Scrutiny
At the center of SwissBorg’s breach was a compromised partner API that provided access to staking services. Security experts note that APIs remain one of the most targeted elements in blockchain systems because they often bridge proprietary platforms with external services. Without sufficient monitoring, they can become high-value attack vectors for hackers.
This incident may push SwissBorg and other platforms to reevaluate how they integrate partner APIs and whether additional safeguards, such as multi-layered authentication or stricter monitoring, should be required before granting access to core services.
SwissBorg Seeks to Contain Reputational Damage
Despite the financial blow, SwissBorg stressed that its proprietary app, other earn programs, and stored funds remained unaffected. By clarifying that the hack was limited to its SOL Earn Program, the company aims to contain reputational fallout and assure customers that the platform’s core infrastructure is still secure.
However, reputational damage is difficult to repair in the competitive crypto landscape. SwissBorg will need to demonstrate stronger safeguards and transparent communication if it wants to retain its user base and attract new participants in the months ahead.
Lessons From the $41 Million Breach
The SwissBorg hack underscores the persistent security risks facing crypto platforms, especially when third-party integrations are involved. As the industry continues to grow, staking programs, cross-chain services, and liquidity pools will remain lucrative targets for attackers.
For users, the breach is another reminder of the importance of diversifying custodial exposure and prioritizing platforms with audited security practices. For companies, it highlights the urgent need to strengthen defenses around APIs and supply chains before hackers exploit them further.
SwissBorg’s willingness to reimburse users and collaborate with security partners may soften the blow. Yet the incident reinforces an uncomfortable reality: in crypto, even trusted platforms can suffer multimillion-dollar losses overnight.
