$40M Stolen as Step Finance Treasury Wallets Compromised
TL;DR
Step Finance, a Solana DeFi platform, suffered a breach where attackers stole around $30-40 million in SOL tokens, causing its native STEP token to drop over 90% and raising security concerns in the ecosystem.
Source: CoinGecko
Step Finance, a major Solana DeFi platform, confirmed multiple treasury and fee wallets were compromised by a sophisticated attacker during Asian Pacific trading hours Jan. 31, resulting in the theft of approximately 261,854 SOL tokens worth roughly $30 million. BleepingComputer reports that Step Finance pegged the loss at $40 million during its investigation. The breach sent shockwaves through the Solana ecosystem as blockchain security firm CertiK flagged that the stolen SOL “has been withdrawn after stake authorization had been transferred” to an unknown wallet address. The incident triggered immediate market panic, with the platform’s native STEP token plummeting over 90 percent within 24 hours. Step Finance allows users to visualize, track, analyze, and manage their crypto assets and positions. Full Story