42m ago
Step Finance on Solana Shuts Down After 261,854 SOL Treasury Hack and Failed Rescue Talks
On January 31, 2026, Step Finance suffered a hack that drained around 261,854 SOL from its treasury, with losses estimated between $27 million and nearly $40 million. After about four weeks of unsuccessful attempts to secure bridge financing or a buyout, the team announced on February 23–24, 2026 that Step Finance, SolanaFloor, and Remora Markets would close, while the STEP token crashed over 96% and redemption plans began to take shape. STEP holders may participate in a buyback based on a pre-hack snapshot, and Remora rToken users are expected to redeem 1:1 for USDC through a separate process.
SOL
SOL+0.36%
42m ago