Step Finance Shuts Down After $40 Million Exploit

The Solana portfolio platform is closing after a $40 million hack drained its treasury, ending efforts to secure new funding or a buyer.

Posted February 24, 2026 at 7:17 am EST.

Another casualty of this downturn: Step Finance is winding down.

The Solana based portfolio dashboard said Monday it will cease operations after a $40 million security breach on Jan. 31 drained its treasury and fee wallets. The team said it explored both acquisition offers and outside financing in the weeks that followed, but failed to secure fresh capital.

This story is an excerpt from the Unchained Daily newsletter.

Subscribe here to get these updates in your email for free

The shutdown impacts not only Step Finance, but also its subsidiaries, including media outlet SolanaFloor and tokenized equities platform Remora Markets. SolanaFloor will keep its historical archive online but will stop publishing new content. Remora, which Step said was isolated from the exploit, is preparing a redemption process allowing rToken holders to redeem for USDC, with tokens backed 1:1.