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SwissBorg

avoid.net/swissborg→47/100·100% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]

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anchored·5Cish5…Q9CE

Summary

SwissBorg is a Swiss-based crypto wealth management and exchange aggregator founded in 2017, holding MiCA authorization from France's AMF and VQF membership in Switzerland. In September 2025, the platform suffered a $41.5 million loss when its staking partner Kiln's API was compromised via a GitHub token theft and Kubernetes pod injection, resulting in the unauthorized transfer of 192,600 SOL from SwissBorg's SOL Earn program; the company subsequently pledged full reimbursement from treasury funds. While SwissBorg maintains legitimate regulatory standing and transparency measures including Proof of Liabilities, the third-party supply chain failure exposes material counterparty risk in its Earn product architecture.

Connected Entities

1 entities
Organizations
□SwissBorg
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    Timeline(8 events)

    2017

    SwissBorg founded in Lausanne, Switzerland by Cyrus Fazel and Anthony Lesoismier.

    2022

    SwissBorg Solutions OÜ registered with France's AMF as a Digital Asset Service Provider (DASP) under number E2022-034.

    June 2024

    SwissBorg publishes Proof of Liabilities audit portal using Merkle-tree cryptographic verification.

    31 August 2025

    SwissBorg uses Kiln Dashboard to unstake 975 SOL. Undetected by SwissBorg's custody signers, a malicious transaction embedded in the Kiln API response reassigns withdrawal authority for multiple high-value Solana stake accounts to an attacker-controlled address.

    8 September 2025

    Attacker executes the drain: 192,600 SOL (~$41.5 million) stolen across eight transactions in under three minutes. Kiln detects unauthorized activity on its platform.

    9 September 2025

    SwissBorg publicly confirms the breach. CEO Cyrus Fazel pledges full user reimbursement from treasury. SOL Earn redemptions suspended. Chainalysis, ZachXBT, SEAL, and Fireblocks engaged.

    7 October 2025

    Kiln publishes formal incident post-mortem identifying GitHub access token compromise as initial entry point, with Sygnia forensics findings. Services re-enabled with six security enhancements.

    11 March 2026

    SwissBorg's French entity Blocknodes SAS receives full MiCA authorization from France's AMF, enabling EU-wide regulated crypto services.

    Provenance & Audit Trail
    Anchored on SolanaVerify on-chain21 Wayback Archivessrc:defillama

    Decision Log

    This investigation is cryptographically anchored to the Solana blockchain (3 events). 21 of 22 cited source URLs have an Internet Archive snapshot.

    full audit log →version history →

    model: claude-sonnet-4-6

    generated: 5/4/2026, 2:54:21 AM

    last updated: 8/29/2026, 11:26:12 PM

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