Best Liquid Staking Protocols
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7.3/10
Staking Platforms
Company file: Kiln, owners, incidents →
Kiln
Non-custodial staking infrastructure behind Ledger, Bitpanda and Fireblocks. In September 2025 a stolen engineer's GitHub token let an attacker alter the Kiln Connect API, and client SwissBorg signed away about 192,600 SOL (~$41M). Kiln has since hardened its stack; base slashing cover has applied since May 2023.
Best for: White-label staking for platforms that decode what they sign
Company file: Kiln, owners, incidents →How this score was reached
7.3 is the weighted average of the five pillar findings below. Dependable, with trade-offs a reader should know about first.
- Custody & Security30%
- 6.6
- Cost & Fee Transparency25%
- 7.8
- Regulation & Legal Standing15%
- 8.0
- Performance & Reliability20%
- 7.4
- Access & Support10%
- 7.2
Non-custodial: withdrawal keys stay with the client. But the 8 Sep 2025 breach of the Kiln Connect API cost SwissBorg about 192,600 SOL (~$41M); SwissBorg said it would reimburse its users, with no independent confirmation found. Base slashing cover for all clients since May 2023, limits not published.
Transparent commission, published per network, with no hidden performance fee layered on top.
European entity with clear corporate structure and regulatory engagement.
No slashing on record, but after the breach Kiln exited every Ethereum validator it ran and paused its API; exits took 10 to 42 days, rewards stopped, and services returned on 7 Oct 2025.
Documentation is strong; the product assumes a technically literate user or an integrating platform.
Strengths
- Non-custodial: withdrawal keys stay with the client
- Base slashing cover for every client since May 2023, with a paid top-up via Chainproof
- Published post-mortem (7 Oct 2025) and six named security changes after the breach
Against it
- Sep 2025 API breach: ~192,600 SOL (~$41M) taken from client SwissBorg
- All Ethereum validators exited in Sep 2025; rewards stopped for weeks
- Built for integrating platforms, not walk-up retail users
Staking rails, and the breach that tested them
Kiln is the staking engine inside wallet and exchange Earn buttons at Ledger, Bitpanda, Fireblocks and others. It is non-custodial, publishes commission per network, and has given every client base slashing cover since May 2023, with a paid top-up from Chainproof.
On 8 Sep 2025 an attacker who had stolen an engineer's GitHub token altered the Kiln Connect API, and client SwissBorg signed a transaction that handed over about 192,600 SOL (~$41M). Kiln then exited all its Ethereum validators, and services came back on 7 Oct 2025 after a review with Sygnia. Anyone integrating it should decode every transaction the API returns before signing.
Frequently asked questions
Kiln or Figment?+
Both are non-custodial and both offer slashing cover without publishing its limits. Kiln publishes commission per network; Figment negotiates it. Figment has no incident on record, while Kiln's API was breached in Sep 2025, so Figment ranks higher in this table.
Was Kiln hacked?+
Its infrastructure was. A stolen GitHub token let an attacker plant code in the Kiln Connect API, and SwissBorg lost about 192,600 SOL (~$41M) when it signed the altered transaction. SwissBorg said it would reimburse its users; we found no independent confirmation that repayment is complete.
Is Kiln suitable for individual stakers?+
Mostly through a partner. The product is aimed at integrating platforms, so individuals usually meet Kiln inside a wallet such as Ledger Live, which names the provider for each staking option.
Assessed by
By James Park
NFT & Web3 Gaming Analyst · September 27, 2026
◆ Disclosure
CoinRadar Daily is a non-commercial project. We have no commercial relationship with Kiln, earn nothing from any link on this page, and carry no advertising or sponsorship anywhere on the site. Findings rest on public sources; we did not open an account or transact.
Rubric v2.0How we score →
The rest of the staking platforms table
- 05Kiln — you are hereWhite-label staking for platforms that decode what they sign7.3
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