Decentralized finance (DeFi) platform Step Finance has detected a breach over the weekend, with the company reporting that the devices used by members of its executive team were compromised and used to execute the hack. Blockchain security company CertiK posted on its incident monitoring account on X (via BleepingComputer) that 261,854 SOL has been illicitly withdrawn, estimated to be worth around $28.9 million. However, the DeFi platform later announced that the total amount lost is closer to $40 million.
“In the early afternoon hours of 31 January (APAC), approximately $40M was drained from the Step Finance treasury. This was a result of our executive team’s devices being compromised,” the company posted on X. It also said, “Through built-in security protections in Token22 and rapid coordination with partners, Step Finance was able to recover approximately $3.7M in Remora assets and $1M in other positions at the time of writing.”
