Step Finance (STEP) announced that a security breach occurred in some treasury wallets hours ago. The project team stated that they are investigating the details of the incident and will share more information with the public as it progresses.
The official statement released by Step Finance included the following:
“A security breach occurred in some of our Treasure Wallets a few hours ago. We are currently investigating the matter. More information will be shared at a later stage. We are contacting cybersecurity firms. Firms that can help can contact us via DM.”
SOL assets reportedly worth approximately $30 million have been stolen.
Following the development, the project’s native token, STEP, experienced a sharp decline in value. In the last few hours, the price has fallen by approximately 73.98%, dropping to $0.006050.
The graph shows the decline in the STEP price.
The token’s market capitalization has fallen to approximately $1.33 million. Selling pressure appears to have accelerated following news of the security breach. The token is listed on Kraken, one of the major exchanges.
Step Finance is known as a portfolio management and transaction aggregation platform operating within the Solana ecosystem. Describing itself as “Solana’s homepage,” the platform offered the ability to visualize and analyze transactions across different Solana contracts in a single interface.
*This is not investment advice.