• 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. • What to know: DeFi portfolio tracker Step Finance will wind down operations effective immediately following a $27 million hack in January. • Native token STEP lost nearly 96% of its value following the incident, and is a further 36% lower in the last 24 hours after the project announced its closure. • Affiliate projects SolanaFloor, a Solana-focused media outlet, and tokenization platform Remora Markets, will also close. • Decentralized finance (DeFi) portfolio tracker Step Finance said it will wind down operations effective immediately. • The Solana-based platform was subject toa hack at the end of January, which saw 261,854 SOL, worth roughly $27 million at the time, stolen.

Article Summaries:

  • Step Finance, a Solana‑based DeFi portfolio tracker, has ceased operations following a January hack that stole 261,854 SOL (≈$27 million). Despite exploring financing and acquisition options, the project could not secure a viable recovery path and announced an immediate shutdown. The native STEP token plummeted nearly 96 % after the breach and fell an additional 36 % in the 24 hours after the closure news. Step Finance is arranging a buyback for STEP holders based on pre‑incident holdings. Affiliate projects SolanaFloor and Remora Markets will also close, marking the end of the Step ecosystem.

Sources: