swissborg

ChainCatcher news, staking infrastructure Kiln announced that following yesterday's Solana incident involving SwissBorg, as part of its response measures, Kiln has begun an orderly exit from all of its Ethereum (ETH) validator nodes to ensure the safety of customer assets after the incident. The exit process is expected to take between 10 to 42 days, depending on the validator, after which withdrawals will be completed according to the network schedule, taking up to 9 days.During the exit period, validators can still earn rewards. Kiln emphasized that they took immediate action upon discovering potential vulnerabilities in the infrastructure, and exiting the validator nodes is a responsible measure to protect stakers' safety. Kiln has suspended certain services on its staking platform, such as the Kiln Dashboard, Widget, and API. Additionally, Swiss cryptocurrency exchange SwissBorg CEO Cyrus Fazel denied that hackers stole $41 million from its wealth management company yesterday, instead attributing the attack to an external DeFi wallet held by its SOL staking partner Kiln.

ChainCatcher news, the Swiss-based crypto platform SwissBorg announced on Monday that it suffered a hack in its SOL Earn program due to a breach of its staking partner's API, resulting in a loss of approximately 192,600 SOL (worth $41.3 million).SwissBorg emphasized that this incident did not affect its own app or other Earn programs, and it committed to using its SOL treasury to help users recover most of the funds, while also collaborating with white-hat hackers and security partners to mitigate the losses as much as possible.

ChainCatcher news, according to The Defiant, the fintech platform SwissBorg, which focuses on cryptocurrency and serves the European market, has announced the launch of a yield-generating USDC Earn product utilizing the Morpho protocol. This new product is now available to users of the SwissBorg app, providing access to a customized Morpho Vault for a Web2 audience.It is reported that the product can access Morpho's WBTC/USDC and wstETH/USDC markets, marking the first use of Morpho's Vaults in a CeFi environment.

ChainCatcher news, according to monitoring by Spot On Chain, due to concerns from the Polygon Foundation regarding the transparency of token allocation, Hermez Network unstaked 4.5 million MATIC (approximately 3.81 million USD) and deposited it into the crypto investment platform SwissBorg two hours ago.The open-source ZK Rollup network Hermez Network was acquired by Polygon for 250 million USD in 2021, and Hermez Network still has at least 39.92 million MATIC (34 million USD) staked.

ChainCatcher news, Swiss cryptocurrency startup SwissBorg, based in Lausanne, has completed a $23 million Series A community funding round with a total of 16,600 investors participating.It is reported that SwissBorg connects users with decentralized finance platforms through its yield products, generating returns on crypto assets in a transparent manner and building a comprehensive crypto wealth management ecosystem. (source link)