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{"actor":"system:backfill","investigation_id":"6670b7ec-4df8-4b8c-8b6d-d167cc148fd6","kind":"publish","page_slug":"step-finance","published_at":"2026-05-19T20:04:09.377Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Step Finance","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://solanacompass.com/projects/step-finance"},{"credibility":3,"name":"","type":"other","url":"https://www.crypto-news-flash.com/george-harraps-journey-from-bitspark-to-step-finance-on-solana/"},{"credibility":3,"name":"","type":"other","url":"https://cointelegraph.com/news/bitspark-shuts-down-amid-restructuring-coronavirus-and-protests"},{"credibility":3,"name":"","type":"other","url":"https://stepfinance.medium.com/step-group-2026-remora-solanafloor-and-more-22045e77fbd7"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://docs.step.finance/"},{"credibility":3,"name":"","type":"other","url":"https://solanabox.tools/tools/step-finance"},{"credibility":3,"name":"","type":"other","url":"https://solanafloor.com/news/step-finance-enters-rwa-sector-third-acquisition"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.halborn.com/blog/post/explained-the-step-finance-hack-january-2026"},{"credibility":3,"name":"","type":"other","url":"https://www.bleepingcomputer.com/news/security/step-finance-says-compromised-execs-devices-led-to-40m-crypto-theft/"},{"credibility":3,"name":"","type":"other","url":"https://www.assuredefi.com/blog/step-finance-hack-explained-40m-executive-device-breach"},{"credibility":3,"name":"","type":"other","url":"https://cryptonews.com/news/30m-stolen-as-step-finance-treasury-wallets-compromised/"},{"credibility":3,"name":"","type":"other","url":"https://www.govinfosecurity.com/cryptohack-roundup-step-finance-shuts-down-after-exploit-a-30855"},{"credibility":3,"name":"","type":"other","url":"https://www.scworld.com/brief/step-finance-loses-40-million-in-executive-device-hack"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://beincrypto.com/author/george-harrap/"},{"credibility":3,"name":"","type":"other","url":"https://www.crunchbase.com/person/george-harrap-e876"},{"credibility":3,"name":"","type":"other","url":"https://cointelegraph.com/news/bitspark-shuts-down-amid-restructuring-coronavirus-and-protests"},{"credibility":3,"name":"","type":"other","url":"https://solana.com/zh/validated/episodes/george-harrap-co-founder-of-step-finance-ep-45"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://docs.step.finance/step-tokenomics"},{"credibility":3,"name":"","type":"other","url":"https://stepfinance.medium.com/step-tokenomics-83825705cd8"},{"credibility":3,"name":"","type":"other","url":"https://coinmarketcap.com/currencies/step-finance/"},{"credibility":3,"name":"","type":"other","url":"https://www.turkishnyradio.com/step-finance-shutdown-sparks-buyback-plan-for-step-holders/"},{"credibility":3,"name":"","type":"other","url":"https://coinfomania.com/step-holders-get-buyback-as-solana-projects-shut-down/"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://solana.com/ecosystem/stepfinance"},{"credibility":3,"name":"","type":"other","url":"https://www.crowdfundinsider.com/2026/02/263817-step-finance-ceases-operations-following-40-million-security-incident/"},{"credibility":3,"name":"","type":"other","url":"https://cryptopotato.com/the-end-of-step-finance-how-a-wallet-compromise-killed-the-solana-defi-aggregator/"},{"credibility":3,"name":"","type":"other","url":"https://therecord.media/step-finance-cryptocurrency-theft-shutdown"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.coindesk.com/business/2026/02/24/step-finance-shuts-operations-after-usd27-million-january-hack"},{"credibility":3,"name":"","type":"other","url":"https://www.theblock.co/post/390964/step-finance-shuts-down"},{"credibility":3,"name":"","type":"other","url":"https://finance.yahoo.com/news/step-finance-solanafloor-shut-down-021611434.html"},{"credibility":3,"name":"","type":"other","url":"https://www.tomshardware.com/tech-industry/cyber-security/usd40-million-worth-of-crypto-stolen-from-step-finance-hackers-compromise-executives-devices-to-gain-illicit-access"},{"credibility":3,"name":"","type":"other","url":"https://www.ainvest.com/news/step-finance-hack-27m-liquidity-drain-token-collapse-2602/"}]}],"sources_used":[],"summary":"Step Finance was a Solana-based DeFi portfolio management and analytics platform founded by George Harrap that operated from 2021 until February 2026. On January 31, 2026, attackers compromised executive team devices and drained approximately $40 million in treasury assets, representing a catastrophic operational security failure. The platform was unable to secure financing or an acquisition to continue operating and formally shut down on February 23, 2026, along with affiliated projects SolanaFloor and Remora Markets.","timeline":[{"date":"2014-01-01","event":"George Harrap co-founds Bitspark, a blockchain remittance startup in Hong Kong.","source":""},{"date":"2020-02-03","event":"Bitspark announces shutdown following co-founder Maxine Ryan's departure and restructuring failure, with COVID-19 and Hong Kong protests cited as exacerbating factors.","source":""},{"date":"2021-04-01","event":"Step Finance launches on Solana, positioning itself as a unified portfolio dashboard for the Solana DeFi ecosystem.","source":""},{"date":"2021-09-12","event":"STEP token reaches its approximate all-time high price.","source":""},{"date":"2021-10-01","event":"Step Finance executes a 37% total supply burn, reducing the STEP token supply from 1 billion.","source":""},{"date":"2021-10-13","event":"STEP staking goes live via the xSTEP mechanism, the first xSUSHI-style staking contract on Solana.","source":""},{"date":"2025-12-01","event":"Step Finance publishes Step Group 2026 roadmap, outlining expansion plans across Step Finance, SolanaFloor, and Remora Markets.","source":""},{"date":"2026-01-31","event":"Critical security breach: attackers compromise executive team devices and drain approximately $40 million (261,854+ SOL) from Step Finance treasury and fee wallets during APAC hours.","source":""},{"date":"2026-01-31","event":"CertiK flags the illicit withdrawal of approximately 261,854 SOL (~$28.9 million) from Step Finance wallets.","source":""},{"date":"2026-02-01","event":"Step Finance confirms the breach publicly, halts operations, engages cybersecurity professionals, and notifies authorities. Revised total loss estimated at ~$40 million.","source":""},{"date":"2026-02-01","event":"Approximately $4.7 million recovered through ecosystem partner coordination ($3.7M in Remora assets, $1M in other positions).","source":""},{"date":"2026-02-23","event":"Step Finance announces immediate wind-down of all operations, including SolanaFloor and Remora Markets, citing inability to secure financing or acquisition after exhausting all options.","source":""},{"date":"2026-02-23","event":"STEP token drops over 37% on the shutdown announcement, with cumulative losses from pre-breach levels reaching approximately 97%.","source":""},{"date":"2026-02-23","event":"Step Finance announces buyback program for STEP holders using a pre-breach snapshot, and a structured USDC redemption process for Remora rToken holders. Terms not yet finalized.","source":""}]},"v":1}