Step Finance shuts operations after $27 million January hack

Step Finance Shuts Down After $40 Million Exploit

The Solana portfolio platform is closing after a $40 million hack drained its treasury, ending efforts to secure new funding or a buyer.

Step Finance shuts operations after $27 million January hack

Step is working on a buyback for holders of native token STEP based on a snpashot of holdings and value prior to the incident.

Solana-Based Step Finance Collapses Following Major Treasury Hack

Key Takeaways Step Finance shut down after a January 31 hack that drained over 261,000 SOL from its treasury. Losses were estimated between $27M and nearly $40M, and recovery funding efforts failed. The closure includes SolanaFloor and Remora Markets. The STEP token collapsed more than 96%, with buyback and redemption plans now in development. The shutdown, announced on February 23-24, 2026, marks a dramatic end for a project that once served a…

Solana Hit Hard: $27 Million Exploit Triggers Wave Of Shutdowns

Operating within the Solana ecosystem, the platform had become a familiar tool for tracking DeFi activity before events took a sudden turn. Step Finance’s sudden shutdown is a sharp example of how a single security failure can end a project’s life faster than many thought possible. Reports say the team decided to stop all work after what it called an unrecoverable breach of treasury accounts. The move covers the main dashboard and several linked…

Three Major Solana Platforms Announce Full Shutdown: Report

Step Finance, SolanaFloor, and Remora Markets announced an immediate shutdown after a $29M January hack drained treasury wallets. Here's what happened.

Solana DeFi Project Step Finance to Wind Down Weeks After $29M Hack

The Solana projects made the "difficult decision" to cease operations after January's treasury breach and subsequent failed rescue efforts.