Kiln Exits Ethereum Validators to Safeguard Client Funds After Swissborg Security Breach

Kiln, a leading multi-blockchain staking platform, has withdrawn its Ethereum validators in response to a significant security breach affecting its partner, SwissBorg. This move, triggered by an attack that resulted in the theft of $41 million worth of assets, aims to safeguard client funds during this vulnerable period. Following an initial assessment of potential compromise on September 8th, Kiln took immediate action to protect stakers by exiting their Ethereum validators. This decision is expected to increase delays within the Ethereum exit queue due to a surge in withdrawal requests following the attack. While details remain limited on the total amount of ETH staked and the number of validators involved, Kiln assures clients that their funds remain secure and protected throughout this process.