Cryptocurrency platform SwissBorg has announced a security breach that has resulted in the loss of approximately 192,600 SOL, valued at around $41.3 million.
The company has been quick to reassure users, stating that the breach did not affect its main application, but was limited to a compromised API from an external partner linked to its SOL Earn Program.
In a video, a company spokesperson described the day as "difficult" but outlined a clear recovery plan.
SwissBorg has pledged to use its own SOL treasury to cover a significant portion of user losses and has hired white hat hackers and security firms to attempt to recover the stolen funds, with the ultimate goal of compensating all affected users.