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Boltz founders step down as group takes over suspended Bitcoin swaps

Boltz suspended the non-custodial swap service on Aug. 3 after AI-assisted attackers exploited vulnerabilities, and the service remains offline as operators work on fixes.

Reported · Written up by our desk · Market Structure

Boltz says its original founders have stepped down from the suspended Bitcoin swap service, with an unnamed group of veteran Bitcoiners agreeing to take over the project. The company said the incoming operators will provide capital and engineering resources, while work to identify and fix vulnerabilities continues, with the goal of restoring swaps as soon as possible.

Boltz added that all original founders left effective immediately and will have no formal role in the project. Any future involvement in the company’s open-source software would be voluntary, and Boltz said it is withholding the new group’s names for now.

The outage stems from AI-assisted attacks that targeted Boltz over several months, increasing in frequency, intensity, and sophistication. Boltz said several attacks succeeded and caused losses to the company, but user funds were never at risk because the service is non-custodial.

As of Wednesday, Boltz’s web app still showed “Swap Services Disabled,” though its API remained available for cooperative refunds. Boltz said unilateral refunds do not depend on its infrastructure, and its support team remained reachable; new swaps were unavailable at the reporting cutoff, it said.

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