Step Finance Hack and Shutdown
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anchored·54AWsN…kX9NSummary
Step Finance, a Solana-based DeFi portfolio tracking dashboard founded in 2021, suffered a treasury breach on January 31, 2026, when attackers compromised executive team devices, took over staking authority on the protocol's staked SOL and drained approximately 261,854 SOL (about $27.3 million at the time), with total losses across all affected assets later reported at around $40 million. Unable to secure financing or an acquisition, Step Finance and its affiliated platforms SolanaFloor and Remora Markets announced permanent closure on February 24, 2026; the STEP token lost roughly 96–97% of its pre-hack value and was later delisted by Kraken.
Connected Entities
12 entities · 60 linked investigations- LEP1uH…SdNu→mentioned with→Step Finance Treasury Theft (January 2026)(50%)
- 7raxie…udNh→mentioned with→Step Finance Treasury Theft (January 2026)(50%)
- Step Finance Hack and Shutdown→mentioned with→Kraken(70%)
- Step Finance Hack and Shutdown→mentioned with→Bitcoin(60%)
- Step Finance Hack and Shutdown→mentioned with→Drift(80%)
- Step Finance Hack and Shutdown→mentioned with→Solana(80%)
- Remora Markets→mentioned with→Solana(80%)
- Step Finance Hack and Shutdown→mentioned with→Alameda Research(80%)
- Step Finance Hack and Shutdown→mentioned with→Drift Protocol(80%)
- Step Finance Treasury Theft (January 2026)→mentioned with→Remora Markets(80%)
- + 14 more
Timeline(12 events)
February 2021
Step Finance originates from a Solana hackathon, founded by George Harrap; it begins as a DCA contract before pivoting to a portfolio tracker.
The DefiantApril 2021
Step Finance raises a $2 million seed round led by Alameda Research, with participation from 3 Commas Capital, Raydium, One Block, and Solidity Ventures.
CoinDeskJanuary 2026
January 31: attackers compromise executive team devices during APAC hours, seize staker and withdrawer authority over Step Finance staked SOL, and unstake and withdraw approximately 261,854–261,932 SOL (about $27.3 million at the time). Total losses including non-SOL assets later reported as approximately $40 million.
CoinDesk / Rekt NewsJanuary 2026
January 31: Step Finance discloses the breach on X as a compromise of "several treasury wallets" by "a sophisticated actor." STEP token crashes roughly 80–93% within 24 hours.
CoinTelegraph via TradingViewJanuary 2026
January 31: CertiK flags and confirms on-chain that 261,854 SOL was unstaked and transferred from Step Finance-controlled wallets to attacker-controlled addresses.
Rekt NewsFebruary 2026
February 2: Step Finance confirms the root cause was the compromise of executive team members' devices, exposing private keys, and advises against STEP token engagement pending investigation.
Rekt NewsFebruary 2026
February 24: Step Finance announces immediate closure of all operations, including SolanaFloor and Remora Markets, after failing to secure financing or an acquisition. Co-founder George Harrap calls it "a difficult day."
CoinTelegraphFebruary 2026
February 24: STEP token falls a further 34–36% on the shutdown announcement (reported prices of approximately $0.00057 and $0.0006013); cumulative losses from pre-hack levels reach roughly 96–97%.
CoinDeskFebruary 2026
February 24: Step Finance announces a STEP buyback based on a pre-hack snapshot and a separate Remora token redemption process; approximately $4.7 million in assets recovered through Token22 and Remora holdings.
The Record (Recorded Future News)March 2026
March 20: Kraken disables STEP deposits and trading as the first phase of a three-phase delisting.
Kraken SupportJune 2026
June 29: Kraken schedules final liquidation of remaining STEP balances, converting them to ETH at weighted market pricing.
Kraken SupportDecision Log
- slot 462188792 · hash AQ3NgBbbWNv2xLY12xxrFnyA3S35nW6nM3mdtRWy9ua9
- slot 462188787 · hash FGuEP2m7rsyw32YTroTmekyniEk91rd4vHpmJTba58CZ
- slot 428474291 · hash 7gPU7tCaz4fJN9UUKNoJvtCzVXSqUjXspFS7wMrJgRiK
This investigation is cryptographically anchored to the Solana blockchain (3 decisions). 31 of 35 cited source URLs have an Internet Archive snapshot.
model: claude-code-merge-writer
generated: 6/23/2026, 11:30:06 PM
last updated: 10/27/2026, 7:27:12 PM
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