Kiln has moved swiftly to protect its clients' assets following the SwissBorg incident related to infrastructure vulnerabilities.
Client Security Assurance
Kiln confirmed that client funds remain fully protected during the validator exit process. Co-Founder and CEO Laszlo Szabo emphasized the importance of safeguarding stakers and mentioned that the company is closely monitoring the process.
Validator Exit Process
According to Kiln, the exit of validators is expected to take between 10 to 42 days, depending on the specific validator. Following this, withdrawals will be processed by the network in up to nine additional days. All validators will continue to earn rewards during this time. Kiln noted that these timelines are enforced at the protocol level and are not subject to change.
Response to SwissBorg Incident
The incident with SwissBorg, which resulted in the loss of around 192,600 SOL, underscores the importance of security in the crypto industry. Kiln is actively reinforcing its infrastructure and has temporarily paused access to certain services to ensure platform security. Co-Founder and CPO Ernest Oppetit stated that client asset safety remains the top priority.
Kiln's actions highlight the necessity for enhanced security measures in cryptocurrency companies to ensure trust in the safety of client assets.
