22.7K @OGAudit 🔥 $30M Hack Forces STEP, SolanaFloor & Remora Markets to Shut Down
STEP, SolanaFloor, and Remora Markets are shutting down after a $30M hack targeting compromised devices, not smart contracts. A buyback program lets STEP holders recover part of their funds using a pre-hack snapshot, highlighting the critical need for strong security in Solana-based DeFi.
86.6K @StepFinance_ Today we are announcing that Step Finance, SolanaFloor, and Remora Markets will be winding down all operations.
Following the hack at the end of January we explored every possible path forward, including financing and acquisition opportunities.
Unfortunately, we were unable to secure a viable outcome and have made the difficult decision to end all operations effective immediately.
We are working on a buyback for STEP holders based on a snapshot prior to the incident, and a redemption process for Remora rToken holders. Remora tokens remain backed 1:1.
We are deeply grateful to our community for the support over the years and are confident that this is the best outcome given the circumstances. We want to thank our millions of customers over the years for joining us on this journey.
More details will be shared soon
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2.7K @PiyushShukla__ Really bad to see. A project that has been in the works for multiple years now was recently exploited for around $40 million. Now, everything is finished; it’s really sad to see it shut down like this
576.9K @TheBlockCo Step Finance shuts down following $40 million security breach https://t.co/1S9kLvQChE
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112.9K @cryptodotnews NEW: @StepFinance_ has shut down following the $40 million security breach that took place at the end of January.
@RemoraMarkets and @SolanaFloor will also be shutting down. https://t.co/iIzjg7dIH5
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