Step Finance was shaken by a $27 million hack.

Step Finance Faces Security Breach

Step Finance announced that it lost 261,854 SOL (approximately 27 million dollars) due to a security breach in its treasury wallets. The incident is still under investigation.

The decentralized finance (DeFi) portfolio tracking platform shared details of the incident with the public via X. They are seeking assistance from security firms but did not provide specifics on how the breach occurred.

Following the breach, the platform's governance token STEP experienced a significant drop, losing over 80% of its value. This situation, combined with the general collapse in the crypto market, has caused concern among investors.