Step Finance, SolanaFloor, and Remora Markets Shut Down After $40M Hack

• Step Finance is closing after a $40 million treasury hack in January.
• SolanaFloor and Remora Markets are also shutting down immediately.
• The STEP token has crashed by over 97% since the exploit.

The Solana ecosystem is facing another setback. Step Finance has announced it is shutting down operations, alongside SolanaFloor and Remora Markets, after a devastating treasury hack and failed efforts to secure new funding or a buyer. The decision comes less than a month after attackers drained roughly $40 million from Step Finance’s treasury following a compromise of executive team devices.

Despite attempts to stabilize the situation, leadership confirmed there was no sustainable path forward.

What Happened?

On January 31 (APAC hours), Step Finance revealed that its treasury had been breached. The exploit resulted in tens of millions of dollars being drained. The …

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