The Protocol: Swissborg’s Sol Earn Wallet Exploited for $ 41.5M

In this Issue:

• Swissborg’s Sol Earn Wallet Exploited for $ 41.5m After Partner’s Api is Compromised
• LEDGER CTO WARNS OF NPM SUPPLI-CHAINE ATTACK HITTING 1B+ DOWNLOADS
• Backpack Opens Regulated Perpetuals Exchange in Europe After FTX EU ACQUISION
• Polygon Pos Sees Transaction Finality LAG, PATCH IN PROGRESS

Network NewsSwissborg’s Sol Earn Wallet Exploited: Crypto Exchange Swissborg Said About 192,600 SOL ($ 41.5 Million) Was Stolen from An External Wallet USED Exclusively for Its Sol Earn Strategy. The Exploit Stemmed from A Partner’s Compromised Application Programming Interface (API), A MECHANISM THAT ALLOWS Software Systems to Communicate With One Another X. It was not a hack of the swissborg platform. The Loss Affected Fewer than 1% of USERS and REPRPRESENTED ABOUT 2% of Swissborg’s Total Assets, The Firm Said. All Other Funds and Strategies Remain Secure, and User Balans Within the Swissborg App are UNAFECTED. SOL EARN Redemptions are paused While Recovery Efforts Proceed. Swissborg Says It Will Cover Any ShortFall, Ensuring No User Losses. The Company Is Working with White-Hat Hackers, Security Firms and Law Enforcement to Recover the Funds. A Full Incident Report Will Follow Once Investigations Conclude. This Exploit Arrives Amid A Sharp Rise in Crypto Thefts, With Over $ 2.17 Billion Already Stolen in 2025. – Shaurya Malwa Read More.

Ledger CTO Warns of Pnm Attack: Charles Guillemet, The Chief Technology Officer at Hardware Wallet Maker Ledger, Warned on X that A Large-Suppply Chain Attack Was Underway After After A repetitive ( compromised. Accorging to Guillemet, The Malicious Code – ALREADY PUSHED INTO PACKAGES WITH Over 1 Billion Downloads – Is Designed to Silently Swap Crypto Wallet Addresses in Transactions. That means unusporting USers Could Sand Funds Directly to The Attacker with Realizing IT. GuilleMet Did Not Name The Developer Whose Account He Said Was Compromison. The incident underscores how deeply interconnected Open-Source Software is and Wy Security LapSes in Developer Tools Can Ripple Into the Crypto Economy Almost Instantly. A day laster, guillemet Shared that Almost Zero Crypto USers Had Been Affected by the Hack. “NPM is A Tool Commonly Used in Software Development Using JavaScript, WHICH MAKES INTEGRATING PACKASGES Easy for Developers,” Said Guillemet in A Message to Coindes. WHEN AN ATTACKER COMPROMISES A DEVELOPER’S ACCOUNT, SLIP Malicious Code Into Widly USED PACKAGES. “The Malicious Code Attempts to Drain USers by Swaping Addresses used in transaction or General on -chain Activity and Replacing Them with the Hacker’s Address,“ GuilleMet Added. – Margaux nijkerk Read More.

Backpack Eu Goes Live Fllowing FTX EU ACQUISION: Backpack Exchange, A Global Cryptocurrency Trading Platform, SAID ITS EUROPEAN DIVISION, BACKPACK EU, IS Official Live. Opeting Out of Cyprus and Licensed Under the European Union’s Mifid II Framework, The Exchange Is Positioning Itself as One of the First Fully Regled Venues in the Europe, St. Perpetual Futures. “AS FAR AS I’M Aware, It’s Just Going to Be Us and Kraken” in Europe Offering Perpetual Futures, Armani Ferrante, The CEO of Backpack, Said in An Interview with Coindesk. The Debut Follows Backpack’s Acquisition of FTX Eu Earlier this year. In January, The FTX Bankring Estate Said the Sale of FTX EU to Backpack Was Not Authorized. SINCE THEN, The Issue Has Been Resolved and In April the Exchange Began Distributing Funds to Former FTX Eu Customers, Fulfilling Their Pledge to Compensate USers Affected BY SAMAPSE. Empire. Backpack Eu Will Provide USers Access to Over 40 Trading Pairs with Up To 10x Leverage, The Team Said in A Statement. The Platform Says It Aims to Give Both Retail and Institutional Traders a Compliment Gateway to Advanced Crypto Trading Products. The Rollout Also Highlights Backpack’s Broader Strategy of Rebuilding Trust in Digital Assets Following A String of Exchange Failures. – Margaux nijkerk Read More.

Polygon Pos Chain Experiences Finality LAG: Polygon’s Proof-of-Stake Chain Is Live, But Transactions Are Taking Longer Than Usual To Lock In, With Finality Running 10-15 Minutes Begind Schedul. Finality is the assumption that a transaction or piece of data is irreversible Once confirMed and adjacent to a block in the blockchain. The Foundation Said in an X Post that a fix have been Identified and is Being Rolled Out to Validators and Service Providers. The Slowdown Was Tied to Issues on Some Bor/Erigon Nodes and RPC Providers, Accounting To Polygon’s Status Page. Node Restarts Resolved The Problem for Many Validtors, While Other Had to Rewind to the Last Finalized Block Before ResynCing, A Status Page Shared. The Disruption ComESS WEEKS after Polygon’s Heimdall V2 Upgrade Promised 5-Second Finality Through A Modernized Consensus Stack. – Shaurya Malwa Read More.

In Other News

• World Liberty Financial (WLFI), The Crypto Protocol Linked to Donald Trump and His Family, Blacklisted Trans Founder and Key Investor Justin Suns Blocchain Address, Preventing Huser. The Move Affects 595 Million Unlocked Wlfi Tokens Held on the Address, Worth Roughly $ 107 Million at Current Prices, Accounting To Arkham Data. The Action Followed the Sun-Linked Address Making Several Outbound Transactions of Wlfi Tokens on the Ethereum Blockchain-Including One for $ 9 Million Worth of the Tokens. Sun, in a transceded post on X, said that the “address only conducted a few Generic Exchange Deposit Tests, with Very Low AntiMunts, and Ten Created Address Dispersion, Withouut Invue InvoLering InvoLering, Witho, Witho, Witho, Witho, Witho, Witho, Witho, Witho, Witho, Witho .e. Not Possibly Have Any Impact On the Market. ” In a lateer statement Sun urged the wlfi team to unblock his tokens. – Sam Reynolds Read More.
• DECENTRALIZED FINANCE PROTOCOL ETHENA SUBMITTED A PROPOSAL TO ISUE HYPERLIQUID’S FORORTHCOMING STABLECOIN, JOINING A Bidding Competition What Has Already Attracted Companies Incli. The token wold be fully beed beetly beckped by Ehenna’s USDTB, a stablecoin Issued with fedh fedh federally charterly charterly charterly charterly charterly charterly charterly charterly charterly charterly charterly chartererly chartererly chartererlyd Bank Anchored Digital and Fully Backed Bubidl, The Tokonized Managemet Managhkt Fundl, The Tokonized Maent, The Tokonized Managet Managhkt Managhk. Securitize. If adapted, Ethena portdged that 95% of Net Revenue from USDH Reserves would Flow Back to the Hyperliquid Ecosystem, The Proposal Said. Ethena Also SAID IT WOURT COVER OF MIGRATING USDC TRADING PAIRS ON HYPERLIQUID TO USDH TO EASE ADOPTION. – Kristzian Sandor Read More.

Regulatory and Policy

• Nasdaq, The US Exchange WHERE The TECH Sector’s Biggest Names List Their Stocks, Is Seening To Put Equities On The Blockchain, Asking The Us Securities and Exchange Commission to SEC Sprinting Toward the Same Tokenization Goal.If the Sec Filing Is Approved, The Exchange Will Let Customers Customers Choos Choose Either The Traditional Rute for Trading Equities or Treated with the Same Priority As the Legacy Method. The Move by Nasdaq Follows An Effort by Digital Brokerage Robinhood to Issue Stock Tokens for European Customers in July, Giving Access to Some 200 US Stocks and Exchange Bringing Equities and Other Real-World Assets Onto Blockchain Rails Has Been Among The Moszling of the Digital-Asset World’s Innovations, and The Competition Has Been Growing Fierce Crypto Natives to make moves. – Jesse Hamilton Read More.
• President Donald Trump’s New Crypto Guy, Patrick Witt, Is Picking Up The Baton from His Priefeesor, Bo Hines, In Goading Lawmakers to Finish Sweeping Us. Stablecoin Law Into Practice, He Said in An Interview with Coindesk. Working Under the Administration’s Crypto Czar, David Sacks, Witt Is The New Point of Contact for Crypto Matters in the White House after Tether. While Hines Saw The Conversion of Congress’ Stablecoin Effort Into Law and Was Able to Atend the White House Ceremony to Cement It, He Left Shortly After, Leaving A LENGY Witt. “There’s No Drop Off Here,” SAID WITT, WHO WAS ELEVATED TO THE NEB LAST MONTH, Just Two Weeks After The Administration Issued ITS Wide-Refert. “We’re Keeping the Pedal to the Metal with All of the Different Initiats on the Legislative Front and the InterAGENCY ACTIONS RECOMMENEDED IN THE REPORT.” – Jesse Hamilton Read More.

Calendar

• Sept. 22-28: Korea Blockchain Week, Seoul
• Oct. 1-2: Token2049, Singapore
• Oct. 13-15: Digital Asset Summit, London
• Oct. 16-17: Europe Blockchain Convention, Barcelona
• Nov. 17-22: Devconnect, Buenos Aires
• Dec. 11-13: Solana BreakPoint, Abu Dhabi
• Feb. 10-12, 2026: Consensus, Hong Kong
• Mar. 30-APR. 2: Ethcc, Cannes
• May 5-7, 2026: Consensus, Miami