‍Step Finance Suffers $27M Treasury Breach, STEP Token Plummets 90%

Step Finance, a Solana-based DeFi protocol, has confirmed a major security breach impacting its treasury. On February 1, 2026, sophisticated attackers compromised protocol-controlled wallets, draining approximately 261,854 SOL, valued at $27.2 million. The exploit, described as a "well-known attack vector," has led to a staggering 93% devaluation of the STEP governance token.

The incident raises concerns about community trust and the long-term viability of exploited protocols, as recovery hinges significantly on rapid and transparent communication, according to industry experts.

https://cryptovka.ru/en/news/8692/step-finance-treasury-breach-triggers-27m-loss-and-90-token-crash