Step Finance Breach Drains $27 Million in SOL

Crypto News Exploits

Step Finance Breach Drains $27 Million in SOL, STEP Token Tanks 90%

Written by Aaron S.,

Editor-In-Chief

Last Updated: February 02, 2026

Key Takeaways

Step Finance confirmed a hack that drained around $27.2 million in SOL from its treasury wallets;
The attack’s cause remains unclear, and the team hasn’t said if user funds were affected;
Following the breach, the STEP token's value crashed by over 90%, dropping to $0.0016 in a day.

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Step Finance Breach Drains $27 Million in SOL, STEP Token Tanks 90%

BITDEGREE IN YOUR SOCIAL FEED

A major security incident has hit Step Finance, a portfolio tracking platform built on Solana SOL $103.78 .

The team confirmed that several of its treasury wallets were hacked, which led to a fall in the project’s token price.

According to a post shared on X, the breach occurred during Asia-Pacific trading hours. Step Finance wrote, "Earlier today, several of our treasury wallets were compromised by a sophisticated actor during APAC hours. This was an attack facilitated through a well-known attack vector".

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Data from CertiK shows that approximately 261,854 SOL, worth roughly $27.2 million, was removed from Step Finance-managed wallets after being unstaked. The exact cause of the breach has not been publicly confirmed.

The team has yet to explain whether it resulted from leaked private keys, an internal vulnerability, or a problem within its smart contracts. It is also unclear if user assets were affected or if the losses were limited to company funds.

The market reaction was immediate. The platform’s native token, STEP, dropped over 90% in value following the news.

Launched in 2021, Step Finance describes itself as the “front page of Solana". It allows users to track and manage their yield farms, liquidity pool positions, and other DeFi assets across Solana-based projects.

CrossCurve confirmed that its cross-chain bridge was targeted by a cyberattack, which resulted in about $3 million in losses. How? Read the full story.