Step Finance shuts operations after $27 million January hack
CoinDesk
Step Finance is shutting down due to a $27 million hack in January, resulting in a significant loss of value for its native token STEP.Summary
DeFi portfolio tracker Step Finance will cease operations immediately following a $27 million hack that occurred in January. The hack involved the theft of 261,854 SOL. The project explored financing and acquisition options but was unable to find a viable path forward. As a result, the native token STEP has lost nearly 96% of its value, with a further 36% decline after the closure announcement. Step Finance, founded in 2021, aggregated yield farms and DeFi positions. Affiliate projects SolanaFloor and Remora Markets will also be closing.
(Source：CoinDesk)