On-chain researcher ZACHXBT reports that Swiss-based cryptocurrency platform Swissborg experienced security incidents on the Solana network, resulting in the theft of around 192,600 SOLs (approximately $41.5 million).
Swissborg explained that the incident was caused by a vulnerability in partner API provider Kiln, affecting only the SoL acquisition program. The platform confirmed that around 193,000 SOLs have been stolen in total.
According to the company’s statement:
- The Swissborg app and other acquisition programs were not affected by the incident.
- Swissborg’s own Sol Treasury is deployed to make up for the loss of the majority of users.
- Efforts are underway to work with White Hat Hackers and their security partners to collect stolen funds.
Swissborg also said that affected users will be contacted by email and provided detailed explanations. The platform argued that its financial health was strong and that its day-to-day operations were not affected.
CEO Cyrus Fazel will be streaming live on YouTube today to connect directly with the community.
*This is not investment advice.
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