Step Finance Treasury Compromised: $30M in SOL Tokens Unstaked

2 mins mins

Key Points:

261,854 SOL tokens, valued at approximately $30 million, were unstaked and transferred.
Step Finance has initiated an investigation and notified authorities.
Market reactions indicate a drop in SOL’s price and trading volume.

Step Finance’s treasury and fee wallets were compromised, with 261,854 SOL tokens (worth around $30 million) stolen, as reported by SolanaFloor and Step Finance’s official post on X.

This breach highlights ongoing security challenges within DeFi, affecting market trust and causing an 80-93% drop in STEP token value post-disclosure.

Step Finance Hack: $30M in SOL Tokens Unstaked

An attack on Step Finance resulted in the unstaking and transfer of 261,854 SOL tokens, valued at approximately $30 million. The incident was first reported by SolanaFloor. Step Finance has announced an investigation into the breach and stated:

The hack on Step Finance’s treasury wallets alarms DeFi users about security issues prevalent in the ecosystem. Immediate market reactions are expected as more details emerge.

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“We are investigating the attack on treasury and fee wallets, have notified authorities, implemented remediation, and are working with cybersecurity firms; more details forthcoming; user funds not exposed.”

SOL’s Market Impact and Price Trends After Breach

Did you know? Historical trends suggest investments in cybersecurity and the development of safeguard technologies could shape future outcomes.

Solana (SOL) currently trades at $101.33, with a market cap of approximately CoinMarketCap. Recent data (CoinMarketCap) indicates a 24-hour trading volume of roughly $7082 million, marking a 6.57% decrease. Price trends show a 2.25% drop in the past day and a more significant 17.04% decline over the week. The trading volume decrease and continual price drops point to heightened risks. The blockchain’s infrastructure may face increased scrutiny as trading dynamics shift.

solana-daily-chart-385 — Solana(SOL), daily chart, screenshot on CoinMarketCap at 17:39 UTC on February 1, 2026. *Source: CoinMarketCap*

Coincu’s research highlights the potential for increased regulatory scrutiny as DeFi attacks rise. This data points toward potential shifts in regulatory approaches and technological advancements for securing decentralized assets.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.