3 Solana platforms to shutter following devastating $27M hack

• Step Finance, Solana NFT analytics, SolanaFloor, and Remora Markets shut down after $27M hack. • Hack occurred Jan 31, 2024, draining 261,854 SOL from treasury wallets. • Security breach deemed unrecoverable; no viable acquisition or financing options. • Step Finance plans token buyback for STEP holders and redemption for Remora rToken holders. • Platforms explored financing, acquisition, but decided to cease operations immediately. • Incident highlights vulnerabilities in Solana DeFi ecosystem and need for stronger security. • Companies announced closure via official statements and social media updates. • Hack underscores importance of treasury wallet security and audit practices.

Article Summaries:

• Three Solana-based platforms have announced they are shutting down after a Step Finance hack at the end of January that has been deemed unrecoverable. Solana portfolio dashboard and DeFi aggregator Step Finance announced on Monday that it would be winding down operations. The closure also extends to subsidiaries Solana NFT analytics and the ecosystem media outlet SolanaFloor, as well as lending and yield protocol Remora Markets. “Following the hack at the end of January, we explored every possible path forward, including financing and acquisition opportunities,” it stated, referring to a $27 m

Sources:

• https://cointelegraph.com/news/step-finance-solanafloor-remora-markets-wind-down-operations?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound