Switzerland-based digital asset management platform SwissBorg has faced a major security breach, which led to the theft of approximately USD 41.5 million.
Affecting its SOL Earn staking programme, the attack exploited a vulnerability in a partner API. On 9 September 2025, an on-chain investigator shared that the company had lost nearly 192,600 SOL. SwissBorg later confirmed the security breach through its X platform account, saying that the app, however, remained fully secure and all other funds in Earn programmes were completely safe.
SwissBorg’s recovery plan
After confirming the security breach, SwissBorg shared its recovery plans, which include allocating its SOL Treasury so users can recover a significant amount of their balance, figures to be completed soon. Additionally, the company intends to engage with white-hat hackers and security partners to recover compromised funds to make all users whole. SwissBorg will also reach out to concerned customers through email with further details. According to the company’s X post, other programmes remain unaffected by the attack. The company concluded that, as it is currently in a good financial position, this incident does not negatively impact day-to-day operations.
The response from the crypto industry has been mixed, with some crypto enthusiasts saying that SwissBorg’s response was swift and transparent, with the company providing proper explanations for the incident. However, this security breach puts the digital asset space in a bad light as it continues to struggle with sophisticated security threats. The breach underlines the risks that are associated with centralised and decentralised platforms, which emphasises the need for stronger security measures.
SwissBorg’s offering
Mostly used across Europe, SwissBorg provides centralised applications for buying, selling, and earning yield on a range of digital assets. The company delivers a suite of products, including Smart Exchange, Crypto Bundles, Earn Yield, and Alpha Deals. According to its website, SwissBorg is licensed and regulated by France’s Financial Markets Authority and Estonia’s Financial Intelligence Unit.
