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SwissBorg hacked for $41M in Solana after Kiln API compromise
Crypto Trends

SwissBorg hacked for $41M in Solana after Kiln API compromise

by admin September 8, 2025



SwissBorg, a Switzerland-based crypto wealth management platform, said hackers exploited a vulnerability in the API of its staking partner Kiln, draining about 193,000 Solana tokens from its Earn program. 

The SwissBorg app and other Earn products were not impacted by the hack, the company wrote in a post on X. The stolen SOL (SOL) tokens were worth roughly $41 million at time of writing.

Source: Swissborg

The breach originated with Kiln, a staking infrastructure provider that powers yield products on blockchains such as Solana and Ethereum.

An API attack targets the software “bridge” that connects two systems. In SwissBorg’s case, its app relied on Kiln’s API to communicate with Solana’s staking network. By compromising the API, hackers were able to manipulate requests and siphon off funds.

SwissBorg said that despite the hack, the company remains in good financial health, daily operations are unaffected and the affected users will be contacted directly by email.

Related: Crypto users urged to take extreme care as NPM attack hits core JavaScript libraries 

A ‘bad day’ but not a fatal blow

SwissBorg CEO Cyrus Fazel hosted an X Space on Monday shortly after the company’s statement that it had been hacked. According to Fazel, the breach only impacted users depositing Solana tokens in its Earn program, which accounts for about 1% of its customer base and 2% of total assets.

“It’s a big amount of money, but it doesn’t put SwissBorg at risk,” the spokesperson said.

SwissBorg’s Solana Earn program lets users deposit SOL through its app to earn staking rewards, using the infrastructure provided by Kiln. The product was part of SwissBorg’s wider suite of Earn offerings on assets like BTC and ETH, designed to give retail users simple access to staking yields without managing validator nodes or DeFi protocols directly.

The company pledged to reimburse affected users, noting that “with the current treasury we have, we could already do that,” while stressing it is also working with international agencies, exchanges and white-hat hackers to assist with the investigation, and that some transactions have already been blocked.

Calling it “a bad day for SwissBorg,” Fazel said the incident would ultimately serve as a learning experience for the company.

Source: Solscan

Blockchain data shows the stolen funds were routed to a Solana wallet now labeled on Solscan as the “SwissBorg Exploiter,” advising users to exercise caution when interacting with it.

Cointelegraph reached out to Swissborg and Kiln for comment, but did not receive an immediate response.



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September 8, 2025 0 comments
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The Fairphone 6 no longer feels like a compromise (except in the US)
Product Reviews

The Fairphone 6 no longer feels like a compromise (except in the US)

by admin August 23, 2025


The Fairphone 6 arrives almost two years after the 5, a testament to the company’s approach to the upgrade cycle. If anything, I suspect the company would be frustrated if Fairphone 5 owners were considering a new model already — these are phones to keep, to repair, and to hold on to until the bitter end.

The newest Fairphone continues the company’s commitment to user-repairability, long-term customer support, and ethical production. That means compromises for the consumer: You’ll find more powerful phones with prettier displays and more capable cameras for less money. But this year those compromises are smaller and easier than ever before, while the phone remains a lot better for the planet — you can’t say fairer than that.

$899

The Good

  • Exceptionally user-repairable
  • Ethically produced
  • Decent performance
  • Long-term software support

The Bad

  • Basic cameras
  • Only IP55
  • Expensive in the US

The Fairphone 6 is available now across the UK and Europe. It costs €599 / £499 for a version running Fairphone’s custom Android software, which is fairly close to the stock experience, or €50 / £50 more running /e/OS, a privacy-centric, Google-free version of Android made by Murena. If you’re in the US, that’s the only model available, and you’ll have to buy it directly from Murena for $899, a price that Murena founder and CEO Gaël Duval told me reflects tariffs on US imports. It’s a substantial price difference that takes the Fairphone 6 from competing with midrangers like the Pixel 9A in Europe to flagships like the Pixel 10 or iPhone 16 in the US, making it significantly harder to justify.

/e/OS replaces Google’s Discover feed with a set of dedicated privacy controls. Image: Dominic Preston / The Verge

I’ve been testing the privacy-focused /e/OS version of the phone. It might not look a million miles from stock Android, but the out-of-the-box experience is quite different. It has quick access to options to block tracking cookies within apps, fake your geolocation info, or hide your IP address, along with a “Wall of Shame” listing your apps by how many times they try to track your activity. Murena describes it as “de-Googled,” which means it’s built on the Android Open Source Project, but doesn’t require a Google account to use, includes no Google apps by default, and should share none of your data with Google.

If you’re ready to commit to the Google-free life, there’s an array of relatively simple stock software, like calendar and map apps that look like they’ve been lifted from a decade ago. An app store defaults to open-source options, giving every app a privacy score with details on the trackers it uses and permissions it requires.

You can install open-source apps, or Play Store alternatives like Google and Samsung’s. Image: Dominic Preston / The Verge

The app store also lets you install just about any Android app — even the Google ones — but only if you want to. That’s thanks to microG, an open-source alternative to Google Play Services. The only caveats are that Google Wallet won’t work for NFC payments, and that some apps are a little… janky. Most seem to work, but MyFitnessPal won’t run, and a few others tend to stutter and crash.

On the hardware side, the Fairphone 6 is smaller and lighter than the 5, with a brighter and smoother 6.31-inch 120Hz display. The Qualcomm Snapdragon 7s Gen 3 chipset isn’t flagship hardware, but it’s smooth enough most of the time, and with 8GB of RAM, it’s powerful enough for anything except serious gaming. The 4,415mAh battery lasts more than a day, and the 30W wired charging speed is fine but unimpressive, with no wireless option.

The cameras remain a big downgrade compared to the competition. The 50-megapixel main lens and 13-megapixel ultrawide are fine for the basics — and exceeded my expectations every now and then — but they struggle in the dark, in complex lighting, or with fast-moving subjects. If you just need your phone camera to be good enough then these definitely are, but you can get much better cameras for the same money (or less) elsewhere.

1/13The Fairphone 6’s main camera does the basics well.

The other big addition to the Fairphone 6 is a range of semi-modular accessories, similar to those offered with Nothing’s CMF Phone 2 Pro. There’s a lanyard, a card holder, and a loop grip, but the clever thing is that all three screw onto the phone’s rear, becoming integral parts of the hardware. I hope more options are coming.

More important is the phone’s ability to last for years. Whether you buy from Fairphone or Murena, you’ll get an extended five-year warranty. Fairphone also commits to eight years of software updates and seven Android version updates, though Murena only promises five years of software support for its version — worse than the likes of Apple, Google, and Samsung.

The Fairphone 6’s cameras aren’t anything to write home about. Photo: Dominic Preston / The Verge

I’m a fan of this slight dent on the phone’s back, which becomes a natural place to rest your little finger. Photo: Dominic Preston / The Verge

That blocky yellow button turns off the camera and mic on /e/OS phones, but switches between customizable modes to control notifications and distractions on the regular model. Photo: Dominic Preston / The Verge

The phone is made from fairly sturdy plastic, with Corning Gorilla Glass 7i on the display, and feels tough. There’s one big durability downside, though: it only has an IP55 rating for dust and water protection — good, but not great — which is the drawback of a repairable design that swaps glue for less watertight screws. So while the Fairphone 6 is more repairable than other alternatives, there’s a slightly higher risk of needing that repair in the first place, at least when it comes to sand and water.

Speaking of: you only need a single Torx T5 screwdriver to strip the phone down to parts, which connect and disconnect with a simple push, clicking into place. You can replace the battery, display, rear cover, each individual camera lens, speaker, earpiece, USB-C port, and SIM tray (which doubles as a microSD slot for expandable storage). Spare parts are sold by Fairphone and iFixit, with a promise to stock them for years. In the US, Murena should stock them, but at the time of writing, the parts aren’t on its site yet.

A Torx T5 screwdriver is all you need to take the phone apart. Photo: Dominic Preston / The Verge

Replacing the backplate — and swapping in accessories — involves just a couple of screws. Photo: Dominic Preston / The Verge

Replacing the battery requires a few more… Photo: Dominic Preston / The Verge

And taking the whole thing apart requires a little commitment, but it’s easy work. Photo: Dominic Preston / The Verge

I wanted to confirm if any idiot could pull off a repair, so I took apart every bit of the phone I could and put it back together again, which took a little over an hour and left me with a perfectly functional phone on the other side. Fairphone has some good YouTube videos to run through any given repair step by step, and it couldn’t be much easier, so long as you pay attention to screwing everything back in the right order (ahem, not a mistake I’d ever make…).

The “fair” bit of the name applies to production too. Fairphone claims to use as many recycled materials as possible, and to work with mines, recyclers, component factories, and assembly lines with fair working conditions, from living wages to worker representation. There’s no ethical consumption under capitalism, but Fairphone claims to get as close as it can.

I’ve been cautious to recommend previous Fairphones. The elevator pitch is great, but paying a premium for underpowered hardware is still a hard sell. But pure power isn’t the differentiating factor it once was, so even if the Fairphone 6 is less powerful than its counterparts, it’s still powerful enough for most of us. Still, improvements in software support and durability from other manufacturers have made Fairphone’s offering less unique — though no one offers repairability like this.

Up against midrange alternatives, as it’s priced in Europe, the Fairphone holds its own. There are small compromises, but it remains a fair choice for just about anyone. In the US, where it costs more than some flagships and comes with the de-Googled /e/OS whether you like it or not, it’s only for those truly committed to the cause.

Photography by Dominic Preston / The Verge

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August 23, 2025 0 comments
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