Overview
- Roughly 192,600–193,000 SOL worth about $41–$41.5 million was drained from SwissBorg’s SOL Earn product, impacting about 1% of users and roughly 2% of assets under management.
- SwissBorg reports its core app and other Earn products were not compromised, and the affected funds were held in an external wallet tied to the SOL Earn strategy.
- The company has allocated treasury assets to reimburse affected users and says its financial position remains stable, with SOL Earn redemptions paused during recovery work.
- On‑chain investigators including ZachXBT traced the haul to a newly flagged “SwissBorg Exploiter” wallet on Solscan, and multiple exchanges have blocked related transactions.
- SwissBorg is working with white‑hat hackers, forensic teams, Fireblocks, the Solana Foundation, exchanges and law enforcement, and plans a full incident report and tighter vendor and API controls.