Step Finance, a Solana-based decentralized finance (DeFi) portfolio tracker, said some of its vault wallets were compromised by a security breach and it is currently under active investigation.
On-chain data shared by blockchain security company CertiK shows that 261,854 SOL (worth approximately $27 million at current prices) were unstaking and transferred during the incident.
The platform disclosed the vulnerability in a post on X and asked cybersecurity firms to assist in the investigation. It did not specify how the attackers gained access or whether user funds were affected.
According to SoSoValue data, the platform’s governance token STEP has fallen by more than 80% in the past 24 hours. Step also runs validator nodes on Solana and uses validator revenue to fund STEP token buybacks.
Founded in 2021, Step Finance aggregates nearly all of the Solana protocol’s yield farms, LP tokens, and DeFi positions into a single dashboard.
It also operates SolanaFloor, a Solana-focused media agency, and organizes the Solana Crossroads conference. In late 2024, it acquired Moose Capital (now Remora Markets) and plans to offer tokenized equity trading on Solana.