3 Solana platforms to shutter following devastating $27M hack

CoinTelegraph

by Martin Young

February 24, 2026

AI-Generated Deep Dive Summary

Three major platforms on the Solana blockchain have announced their shutdown following a significant $27 million security breach at Step Finance. The hacking incident occurred in January, leading to irreparable losses and forcing the closure of Step Finance, SolanaFloor, and Remora Markets. These platforms were integral to the Solana ecosystem, offering services ranging from DeFi aggregation and NFT analytics to lending protocols. Step Finance, a popular DeFi aggregator on Solana, was at the center of the hack. The breach occurred at the end of January when attackers exploited vulnerabilities in its treasury wallets, resulting in the theft of $27 million. In response, Step Finance announced it would wind down operations, including its subsidiaries SolanaFloor, a media outlet covering the ecosystem, and Remora Markets, a lending protocol designed to enhance yield farming. The closure of these platforms marks a significant setback for the Solana community. Despite efforts to explore recovery options, such as securing additional funding or potential acquisitions, Step Finance found no viable path forward following the attack. This incident highlights the ongoing challenges in DeFi security and underscores the risks associated with digital asset management. For crypto enthusiasts and investors, this news serves as a stark reminder of the importance of robust security measures within decentralized finance platforms. The loss of these platforms not only affects users directly but also impacts the broader Solana ecosystem, potentially discouraging new projects and users from engaging with DeFi services on the network. The incident emphasizes the need for improved security protocols and transparency in blockchain-based financial systems.

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Originally published on CoinTelegraph on 2/24/2026