Kinto and SwissBorg crash caused $40 million to evaporate, DeFi high-yield phantom shattered
Source: CoinWorld
Time: 2025-09-13 02:16:16
A DeFi giant lost $40 million in assets after the crypto lending protocol Kinto crashed and the SwissBorg wealth management platform suffered a cyberattack. Kinto is gradually shutting down operations due to liquidity issues, while SwissBorg is facing unauthorized withdrawals. These events highlight the risks of leveraged DeFi products and custody security, prompting relevant agreements to strengthen risk control and return strategies. Analysts warn that unsecured loans could face regulatory scrutiny.