Solana Platform Step Finance Shuts Down After $27 Million Hack
Step Finance is a DeFi portfolio aggregator in the Solana ecosystem that helps users track and manage on-chain assets. It also operates NFT analytics platform SolanaFloor and lending protocol Remora Markets. The shutdown shows how major cybersecurity losses can further erode Web3 teams’ ability to secure funding and sustain operations.
Step Finance said it was hacked in January 2026, with about $27 million in assets stolen. After failing to secure additional financing, it announced an immediate halt to all operations. The closure covers Step Finance, SolanaFloor and Remora Markets. The company is conducting a buyback for tokenholders but has not announced a completion timetable.
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The history behind this eventSolana-Based Drift Protocol Hacked for $220 Million
Drift Protocol is a major decentralized perpetual futures exchange in the Solana ecosystem, allowing users to deploy assets in trading, lending and vaults. The attack was not simply a smart-contract exploit but a prolonged infiltration targeting governance multisig controls and trust in personnel. More than half of the protocol's total value locked was affected, highlighting operational security risks in DeFi.
On April 1, 2026, the attackers seized control of Drift's multisig and transferred assets within 10 seconds. The loss estimate was raised from an initial range of $136 million to $220 million to $285 million, including $155.6 million in JLP, while DRIFT fell more than 30%. Drift said on April 5 that UNC4736, a North Korea-linked group, had posed as a quantitative trading firm since the fall of 2025, infiltrating the protocol for six months and using Durable Nonce to bypass its multisig.
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