A $27 million treasury breach attributed to a "well-known attack vector." Let that sentence sink in. If the vulnerability is common knowledge, then this is not an unfortunate incident—it is operational negligence. DeFi protocols on highly composable chains must prioritize security architecture over aggressive token launch timelines. The market's 93% devaluation of STEP is simply the cost of this failed audit.
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
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