Solana DeFi platform step finance hit by $27 million treasury hack as token price craters
CoinDesk
Solana DeFi platform Step Finance suffered a $27 million treasury hack involving 261,854 SOL, causing its STEP token to drop over 80%.Summary
Step Finance, a decentralized finance (DeFi) portfolio tracker on Solana, announced that some of its treasury wallets were compromised in a security breach. Onchain data indicated that 261,854 SOL, valued at approximately $27 million, was unstaked and transferred out during the incident. The platform disclosed the breach on X and requested assistance from cybersecurity firms but did not immediately specify the access method or whether user funds were impacted. Following the news, the platform's governance token, STEP, plummeted by over 80%. Step Finance, founded in 2021, aggregates DeFi positions across Solana protocols and also operates a validator node and the SolanaFloor media outlet.
(Source：CoinDesk)