Hackers Breach SwissBorg Crypto Platform, Steal $40 Million

Simultaneously, PeckShield reported a breach of the DeFi platform Nemo.

On September 8, unknown individuals stole 192,600 SOL valued at $41 million from the Swiss crypto platform SwissBorg. The incident was first reported by on-chain detective ZachXBT.

Investigations revealed that the breach targeted the SOL Earn product through the platform’s partner, Kiln. The project provides staking infrastructure for Solana and Ethereum.

SOL Earn Incident & SwissBorg Recovery Plan

A partner API was compromised, impacting our SOL Earn Program (~193k SOL, <1% of users).
👉 Rest assured, the SwissBorg app remains fully secure and all other funds in Earn programs are 100% safe.

Our recovery plan.
Immediate Actions…

— SwissBorg (@swissborg) September 8, 2025

According to SwissBorg representatives, the incident affected less than 1% of the platform’s clients. The management presented a compensation plan and promised to reimburse all user losses.

The Swiss project team emphasized that the breach did not affect the main application or other Earn programs.

“SwissBorg remains in good financial standing; this incident has not impacted daily operations,” the statement read.

A Productive Start to the Week for Hackers

On the same day, PeckShield specialists reported a breach of the DeFi platform Nemo based on Sui. Hackers stole USDC worth $2.4 million.

#PeckShieldAlert @nemoprotocol on @SuiNetwork has been exploited for $2.4M

The hacker bridged $USDC via Circle from Arbitrum to Ethereum. pic.twitter.com/QSB0ec7TZy

— PeckShieldAlert (@PeckShieldAlert) September 8, 2025

Analysts added that by the time the attack was discovered, the perpetrator had already transferred the stolen stablecoins from Arbitrum to Ethereum.

According to the Nemo team, the incident affected the protocol’s liquidity pool. Developers temporarily suspended all smart contract activities and promised to share additional information “as soon as it becomes available.”

Nemo experienced a security incident occurred last night, impacting the Market pool.

We are investigating the matter and have suspended all smart contract activity for the time being. We plan to share when more information becomes available. All Vault assets remain untouched.…

— Nemo (@nemoprotocol) September 8, 2025

All assets in the vaults are secure, the protocol representatives stated. The cause of the breach remains unknown.

Previously, attackers injected malicious code to drain cryptocurrency wallets through the JavaScript ecosystem.