Switzerland-based crypto platform SwissBorg announced on Monday (September 8) that it had lost around US$41 million worth of Solana (SOL) in a security breach.

“This is a difficult day for SwissBorg,”

a company spokesperson said in a video posted on X, adding that the breach did not involve the company’s app but rather a staking partner.

According to The Block, a partner API was compromised, leading to an attack on its SOL Earn Programme.

Online researcher ZachXBT reported that SwissBorg lost approximately 192,600 SOL (around US$41.3 million).

SwissBorg stated it plans to use its SOL treasury to help users “recover a significant portion of their balance,” with final amounts to be confirmed soon.

The company also said it had engaged “white-hat hackers and security partners to recover compromised funds with the goal of making all users whole.”

Featured image credit: Edited by Fintech News Switzerland, based on image by macrovector via Freepik