Step Finance, a decentralized finance (DeFi) aggregator built on the Solana blockchain, has announced its immediate closure due to an inability to recover from a substantial hack that took place in January. The incident resulted in the theft of 261,854 SOL tokens, valued at approximately $29 million.
We are announcing that Step Finance, SolanaFloor, and Remora Markets will be winding down all operations. After the hack, we explored every possible path forward, including financing and acquisition opportunities. However, we were unable to proceed.
— Step☀️ (@StepFinance_) February 23, 2026
This closure extends to subsidiary projects, including SolanaFloor, a media outlet, and Remora Markets, a lending protocol, which will also cease operations. Following the hack, the Step Finance team sought potential funding or acquisition options but ultimately found no viable path forward. Co-founder George Harrap even expressed willingness to sell parts of the ecosystem if serious buyers were available.
In a bid to address the losses suffered by users, Step Finance has committed to a buyback of native STEP tokens based on a snapshot taken before the hack. Additionally, holders of rToken assets from Remora will have similar recovery options.
