3 Solana platforms to shutter following devastating $40M hack

Solana DeFi aggregator Step Finance says it was “unable to secure a viable outcome” after a $40 million treasury wallet breach in January.

Update Feb. 24, 9:21 am UTC: This article has been updated to include Step Finance’s estimate that approximately $40 million was drained from its treasury.

Three Solana-based platforms have announced they are shutting down after a Step Finance hack at the end of January that has been deemed unrecoverable. 

Solana portfolio dashboard and DeFi aggregator Step Finance announced on Monday that it would be winding down operations. The closure also extends to subsidiaries Solana NFT analytics and the ecosystem media outlet SolanaFloor, as well as lending and yield protocol Remora Markets.

Read more