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anchored·5Cish5…Q9CESummary
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
- hash: 5nHFAPE4Gm9Tc7qRbGDCzsfsYpuaxA2LVHZknSthu9Lc
- hash: 2ErDdMhp9uRParPPrhKncgqWbib5igRfboKFfjahp1cw
- hash: 6irKiizqbY9ga4PyHbGix4a7AAvo95eP5WdQU1NqNPWS
This investigation is cryptographically anchored to the Solana blockchain (3 events). 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: 8/29/2026, 11:26:12 PM
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