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SwissBorg Faces $41M Solana Breach Linked to Kiln API
The cryptocurrency market has been rocked by a recent breach in the SwissBorg Earn Program, which resulted in the loss of approximately $41 million worth of Solana (SOL) assets. This incident is particularly noteworthy as it highlights the potential vulnerabilities that can occur when relying on third-party providers.
According to reports, the hack occurred through Kiln’s compromised API, which served as a communication bridge between SwissBorg’s app and the staking network. The hackers exploited this weakness by manipulating requests to siphon funds from the Solana Earn Program, resulting in the significant loss of assets.
SwissBorg CEO Cyrus Fazel stated that only deposits made into the Solana Earn Program were impacted. He emphasized that daily operations have not been affected and that the incident does not put the company’s overall financial health at risk. The CEO also acknowledged the size of the breach but assured users that the incident does not put SwissBorg at risk.
The security measures taken by SwissBorg in response to this incident include working with white-hat hackers, international security partners, and law enforcement agencies to track and recover stolen funds.
Source: cryptotale.org
