The post Kiln Exits 1.6 Million ETH Nodes appeared on BitcoinEthereumNews.com. Key Points: Kiln exits 1.6 million ETH due to security breach. ETH likely restaked, not sold. Immediate market turbulence expected. Kiln has begun a phased withdrawal of approximately 1.6 million ETH from the Ethereum PoS network following a SwissBorg-related security breach, as stated by Kiln CEO Laszlo Szabo. The withdrawal could affect Ethereum’s staking landscape, though Kiln assures assets will likely be re-staked, mitigating potential market disruption. The process underscores heightened security measures. Kiln Exits 1.6 Million ETH Following SwissBorg Breach Kiln, a leading Ethereum staking provider, commenced the withdrawal of all its validator nodes due to a breach involving SwissBorg. This move affects approximately 1.6 million ETH. Laszlo Szabo, CEO of Kiln, emphasized the importance of protecting client assets, seeing this step as essential for securing stakers’ interests. The breach did not compromise Ethereum assets. The temporary withdrawal may cause market unease, but Kiln confirms the ETH will likely be restaked using new validator keys. The validator exit queue surged by 700,000 ETH following their announcement, a common occurrence linked to significant withdrawal volumes. Our priority is, and will always be, the safety of client assets and the resilience of our platform. Exiting validators is the responsible step to protect stakers. Reactions from the crypto community have focused on the restaking assurance provided by Kiln. Anthony Sassano, a key Ethereum educator, highlights the expectation that exiting ETH will not affect market supply. Kiln’s proactive security measures have been generally well-received. Ethereum’s Market Resilience Amid Kiln’s Strategic Restaking Did you know? A validator exit queue increase of 700,000 ETH after Kiln’s decision mirrors past incidents, where high withdrawal volumes led to temporary market turbulence without long-term effects on Ethereum’s stability. As of September 11, Ethereum (ETH) is valued at $4,437.80 with a market cap of $535.66 billion. The 24-hour trading… The post Kiln Exits 1.6 Million ETH Nodes appeared on BitcoinEthereumNews.com. Key Points: Kiln exits 1.6 million ETH due to security breach. ETH likely restaked, not sold. Immediate market turbulence expected. Kiln has begun a phased withdrawal of approximately 1.6 million ETH from the Ethereum PoS network following a SwissBorg-related security breach, as stated by Kiln CEO Laszlo Szabo. The withdrawal could affect Ethereum’s staking landscape, though Kiln assures assets will likely be re-staked, mitigating potential market disruption. The process underscores heightened security measures. Kiln Exits 1.6 Million ETH Following SwissBorg Breach Kiln, a leading Ethereum staking provider, commenced the withdrawal of all its validator nodes due to a breach involving SwissBorg. This move affects approximately 1.6 million ETH. Laszlo Szabo, CEO of Kiln, emphasized the importance of protecting client assets, seeing this step as essential for securing stakers’ interests. The breach did not compromise Ethereum assets. The temporary withdrawal may cause market unease, but Kiln confirms the ETH will likely be restaked using new validator keys. The validator exit queue surged by 700,000 ETH following their announcement, a common occurrence linked to significant withdrawal volumes. Our priority is, and will always be, the safety of client assets and the resilience of our platform. Exiting validators is the responsible step to protect stakers. Reactions from the crypto community have focused on the restaking assurance provided by Kiln. Anthony Sassano, a key Ethereum educator, highlights the expectation that exiting ETH will not affect market supply. Kiln’s proactive security measures have been generally well-received. Ethereum’s Market Resilience Amid Kiln’s Strategic Restaking Did you know? A validator exit queue increase of 700,000 ETH after Kiln’s decision mirrors past incidents, where high withdrawal volumes led to temporary market turbulence without long-term effects on Ethereum’s stability. As of September 11, Ethereum (ETH) is valued at $4,437.80 with a market cap of $535.66 billion. The 24-hour trading…