SwissBorg CEO blames pledge partner Kiln for $41 million loss

SwissBorg CEO Cyrus Fazel denied hacking his wealth management company to steal $41 million, instead attributed the attack to an external DeFi wallet held by its SOL staking partner Kiln, according to Golden Finance. Blockchain security expert ChaofanShou has compared it with the 2025 ByBit hacking incident. Shou pointed out that a week ago release transaction gave hackers permission to withdraw funds. Kiln announced today that it has suspended some services on its staking platform, such as KilnDashboard, Widget and API, until the current security issues are completely resolved. "The Kiln team and multiple third parties are conducting a comprehensive investigation into the incident. We will continue to share it here once there is any important information related to the customer." Crypto wallet company TrustWallet also said its Earn feature is currently unavailable because "there is an ongoing problem with the API of partner Kiln" and stressed that the funds held by users in TrustWallet are still safe.