Step Finance Halts Operations Following $27M January Security Breach

Step Finance, a Solana-based portfolio management platform, has officially ceased its operations. This decision comes in the aftermath of a significant security breach in January that resulted in the loss of approximately $27 million. The hack, which targeted the protocol's liquidity pools, led to a critical depletion of funds from which the project could not recover. The team announced the shutdown, stating that continuing operations was no longer viable. This incident highlights the ongoing security challenges within the DeFi ecosystem, particularly on high-throughput networks like Solana. Users and investors are advised to withdraw any remaining assets, as the platform's front-end and services are now permanently offline.