Step Finance Falls Victim to Hack, Loses $30M in SOL

Step Finance, an analytics platform in the Solana ecosystem, has disclosed that it was recently a victim of a major security breach. While this is not new in the crypto space, the team confirmed that several of its treasury and fee wallets were compromised.

The latest incident has resulted in a significant financial loss. According to the update, the security breach is still under investigation, and the company noted that it is working closely with experts to understand exactly what happened.

$30M in SOL Unstaked and Moved

On-chain data shows that around 261,854 SOL, valued at roughly $30 million, were unstaked and moved during the attack. Notably, blockchain trackers flagged the suspicious activity, as the unstaking and transfers occurred within a short period.

Sadly, the incident has fueled fear, prompting users to seek clarity. A user noted that events like this occur when the crypto market is struggling. The same X user said that after years of hacks, one would think this wouldn’t be happening.

Step Finance also shared that the breach affects only specific internal wallets. The team further emphasized that user funds are not directly held in these wallets. As the news made headlines, the platform disclosed that it had taken significant steps to ensure system security and prevent further damage. The platform said it is currently contacting cybersecurity firms for assistance.

Crypto Hacks Remain a Growing Industry Challenge

According to the firm, intense investigations are ongoing, and more details are expected to be released once the situation becomes clearer. Users are expected to stay calm, particularly the newcomers.

This incident highlights the need for tighter and enhanced security measures, as hackers leverage on security weaknesses. Even famous projects with strong reputations and experience have become targets for attackers.

Over the years, security breaches and hacks have become a major challenge in the crypto space. With newer sophisticated tactics and strategies, users, investors, projects, and institutions are often victims, especially as the value of crypto assets continues to grow.

In related news, on January 8, 2026, the Ethereum scaling solution, The Truebit Protocol, suffered a major security breach involving its smart contract. This incident resulted in the loss of roughly 8,535 ETH from its Purchase smart contract, valued at approximately $26.4 million at the time.

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