Early Solana Platforms Shutdown After Tragic Hack Stole Millions

Step Finance and SolanaFloor, two early Solana ecosystem platforms, have announced they are shutting down operations effective immediately after the treasury hack that hit Step Finance at the end of January.

Step Finance said it explored financing and acquisition options after the breach but could not secure a viable path forward. 

A Tragic End to Solana’s Early Ecosystem Platforms

The shutdown also includes Remora Markets, another Step-linked platform. 

Step said it is working on a buyback for STEP holders using a pre-incident snapshot and a redemption process for Remora rToken holders, adding that Remora tokens remain backed 1:1.

Step Finances’ STEP Token Flatlined After the Recent Hack. Source: CoinGecko

Meanwhile, SolanaFloor said it will stop publishing new content but keep its existing website, videos, and newsletters online as an archive. 

The media outlet said it tried to continue operating after the events affecting its parent company, Step Finance, but could not find a sustainable route.

The closures follow a major hack disclosed in late January that drained Step Finance’s treasury and triggered a sharp loss of confidence. 

The attack reportedly compromised devices linked to executives, giving attackers access to treasury wallets and leading to a multimillion-dollar loss in SOL.

That breach was a fatal blow because Step Finance depended on treasury resources to support operations and ecosystem expansion. 

After the hack, STEP token value collapsed, and the company faced mounting pressure to stabilize finances while maintaining multiple products.

Step Finance was one of Solana’s original DeFi infrastructure names. It built a widely used portfolio dashboard that helped users track wallets, yield positions, LPs, and broader on-chain activity across Solana in one place. 

For many users during Solana’s growth years, Step served as a core utility layer.

SolanaFloor played a different but equally important role. It became one of the most visible Solana-focused media and analytics platforms, covering ecosystem launches, market trends, NFTs, DeFi, and project updates. 

Together, the shutdowns mark the loss of two long-standing Solana brands.

Source: https://beincrypto.com/solana-early-pillars-step-finance-solanafloor-shut-down/