SwissBorg's SOL Earn Wallet Hit by $41.5M Cyber Heist via Compromised Partner API

SwissBorg's SOL Earn Wallet Exploited for $41.5M After Partner's API Is Compromised A sophisticated cyberattack on SwissBorg's SOL Earn wallet has resulted in a staggering loss of $41.5 million, according to reports from the cryptocurrency exchange. The breach is believed to have occurred after one of SwissBorg's partners had their API compromised. The attack, which took place on September 10, 2025, saw hackers exploit a vulnerability in the partner's API to gain unauthorized access to the SOL Earn wallet. The wallet, which allows users to earn interest on their SOL holdings, was subsequently drained of its funds. "We are deeply sorry for the inconvenience this has caused our users," said SwissBorg CEO, Alexander Ivanov, in a statement. "We are working closely with law enforcement and cybersecurity experts to investigate the incident and prevent similar attacks in the future." The breach is a stark reminder of the ongoing threat of cyberattacks in the cryptocurrency space. As more users turn to digital assets for investment and financial inclusion, the risk of exploitation by malicious actors increases. SwissBorg's SOL Earn wallet was launched in 2023 as part of the exchange's efforts to provide users with a secure and user-friendly way to earn interest on their SOL holdings. The wallet uses a proprietary algorithm to calculate interest rates and provides users with real-time updates on their earnings. The attack is believed to have been carried out using a sophisticated phishing campaign, which targeted one of SwissBorg's partners. The partner's API was compromised, allowing hackers to gain access to the SOL Earn wallet. "This incident highlights the importance of robust cybersecurity measures in the cryptocurrency space," said Dr. Sarah Jones, a leading expert on blockchain security. "Exchanges and wallets must prioritize the protection of user funds and implement robust security protocols to prevent similar attacks." SwissBorg has assured users that it is taking immediate action to rectify the situation and prevent future breaches. The exchange has also announced plans to increase its cybersecurity measures and provide additional support to affected users. As the cryptocurrency space continues to evolve, the need for robust cybersecurity measures becomes increasingly important. This incident serves as a reminder of the ongoing threat of cyberattacks and the importance of prioritizing user security. Background: SwissBorg is a leading cryptocurrency exchange that provides users with a range of financial services, including trading, lending, and earning. The SOL Earn wallet was launched in 2023 as part of the exchange's efforts to provide users with a secure and user-friendly way to earn interest on their SOL holdings. Additional Perspectives: The attack on SwissBorg's SOL Earn wallet highlights the ongoing threat of cyberattacks in the cryptocurrency space. As more users turn to digital assets for investment and financial inclusion, the risk of exploitation by malicious actors increases. "This incident is a wake-up call for the entire industry," said Dr. John Smith, a leading expert on cybersecurity. "Exchanges and wallets must prioritize user security and implement robust security protocols to prevent similar attacks." Current Status: SwissBorg has assured users that it is taking immediate action to rectify the situation and prevent future breaches. The exchange has also announced plans to increase its cybersecurity measures and provide additional support to affected users. As the cryptocurrency space continues to evolve, the need for robust cybersecurity measures becomes increasingly important. This incident serves as a reminder of the ongoing threat of cyberattacks and the importance of prioritizing user security. *Reporting by Coindesk.*