SwissBorg loses $41.5 million in security breach
The post SwissBorg loses $41.5 million in security breach appeared on BitcoinEthereumNews.com.
European crypto investment app SwissBorg has reportedly been targeted in a security breach, which has resulted in the theft of 192,600 Solana tokens valued at about $41.5 million. On-chain investigator ZachXBT broke the news on Monday evening, saying the incident happened “a few hours ago,” explaining that the security breach happened directly on the Solana network. SwissBorg confirmed the incident In a post on the X platform, ZachXBT, well-known in the crypto community for unearthing and tracking illicit activities on the blockchain, revealed the alleged wallet address of the offender, and it has been identified as: “TYFWG3hvvxWMs2KXEk8cDuJCsXEYKs65eeqpD9P4mK1.” At the time of this report, SwissBorg had confirmed the security breach through its X platform account. “A partner API was compromised, impacting our SOL Earn Program (~193k SOL, <1% of users). Rest assured, the SwissBorg app remains fully secure and all other funds in Earn programs are 100% safe.” SwissBorg. SwissBorg further shared their recovery plans, which include “allocating SwissBorg’s SOL Treasury so users recover a significant portion of their balance, figures to be finalized soon,” while ongoing actions include “engaging white-hat hackers & security partners to recover compromised funds with the goal of making all users whole.” 🚨JUST IN: According to @zachxbt, European crypto exchange @swissborg was exploited a few hours ago for 192.6K $SOL ($41M). pic.twitter.com/aJ6qyjI69o — SolanaFloor (@SolanaFloor) September 8, 2025 The platform also explained that they would reach out to concerned users via email with further explanations. Other programs remain unaffected, according to their post on the X platform. “SwissBorg is in good financial health, and this incident does not affect Day-to-day operations,” wrote the company. Some crypto enthusiasts appreciated the “swift response,” transparency, and explanations by Swissborg, adding that such incidents happen to “the best of exchanges.” But others think otherwise. SwissBorg is popular in Europe, offering…
Filed under: News - @ September 8, 2025 10:28 pm