Kiln: is withdrawing all Ethereum validator nodes as a precautionary measure related to the SwissBorg security incident

ChainCatcher news, staking infrastructure Kiln announced that following yesterday's Solana incident involving SwissBorg, as part of its response measures, Kiln has begun an orderly exit from all of its Ethereum (ETH) validator nodes to ensure the safety of customer assets after the incident. The exit process is expected to take between 10 to 42 days, depending on the validator, after which withdrawals will be completed according to the network schedule, taking up to 9 days.

During the exit period, validators can still earn rewards. Kiln emphasized that they took immediate action upon discovering potential vulnerabilities in the infrastructure, and exiting the validator nodes is a responsible measure to protect stakers' safety. Kiln has suspended certain services on its staking platform, such as the Kiln Dashboard, Widget, and API. Additionally, Swiss cryptocurrency exchange SwissBorg CEO Cyrus Fazel denied that hackers stole $41 million from its wealth management company yesterday, instead attributing the attack to an external DeFi wallet held by its SOL staking partner Kiln.