Solana-based portfolio management platform Step Finance said it will cease operations after a January 31 security breach drained approximately $40 million from its treasury and fee wallets. The company stated that efforts to secure external financing or pursue acquisition talks were unsuccessful in the weeks following the incident.
The shutdown affects Step Finance and its subsidiaries, including media outlet SolanaFloor and tokenized equities platform Remora Markets. While SolanaFloor will maintain an archive of past content, new reporting will stop. Remora Markets said it remains operationally isolated from the breach and is developing a redemption process for rToken holders.
Founded in 2021, Step Finance positioned itself as a dashboard aggregating liquidity pools, yield farms, and positions across most Solana protocols. The closure underscores ongoing security and liquidity risks within decentralized finance, particularly for platforms heavily reliant on treasury reserves to sustain operations.
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