SwissBorg
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 47 → 68. Problems weighed by who is responsible: concerns that are not fraud −6.4, incidents the subject suffered −3.2, problems around the subject, caused by others −2.4; legitimacy credit long-running +10, regulated +5; fact-check adjustments (−5) now shown as page reliability, not in the score. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -6.4 |
| Incidents it suffered (e.g. hacks) | -3.2 |
| Problems around it, caused by others | -2.4 |
| Long-running | +10 |
| Regulated | +5 |
| Sum | 68 |
Score: 68/100 (kept between 0 and 100)
How scoring works →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
4 entities · 60 linked investigations- SwissBorg→mentioned with→ZachXBT(65%)
- SwissBorg→mentioned with→Solana(70%)
- SwissBorg→mentioned with→Bitget(60%)
- Bitget→mentioned with→ZachXBT(70%)
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.
Decision Log
- slot 455365409 · hash GiN4UrpTLX7xwhhkHZ9aGaucRk3arhpfnyHsyRMCJTx3
- slot 425424108 · hash 5nHFAPE4Gm9Tc7qRbGDCzsfsYpuaxA2LVHZknSthu9Lc
- slot 425424104 · hash 2ErDdMhp9uRParPPrhKncgqWbib5igRfboKFfjahp1cw
- slot 420905018 · hash 6irKiizqbY9ga4PyHbGix4a7AAvo95eP5WdQU1NqNPWS
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 21 of 22 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:21 AM
last updated: 10/10/2026, 6:45:39 PM
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