Solana DeFi Platforms Shut Down After $27 Million Hack

Three DeFi platforms built on the Solana network have ceased operations following a major security breach at the end of January 2026. The hack resulted in the theft of $27 million worth of funds, which has been declared unrecoverable.

The affected platforms include Step Finance, a portfolio dashboard and DeFi aggregator, as well as its affiliated entities SolanaFloor and Remora Markets. In an official statement, the Step Finance team explained that they had explored various options to salvage the company, including seeking additional funding and considering acquisition opportunities. However, none of these efforts were successful in ensuring business continuity.

The breach occurred on January 31, 2026, when Step Finance disclosed a security compromise involving several of its treasury wallets. According to a report from CertiK, a total of 261,854 SOL were unstaked and transferred from the company’s wallets at the time of the incident.