Step Finance has reported a significant security breach affecting some of its treasury wallets, leading to a substantial loss of assets. Experts in the publication emphasize that the project team is actively investigating the situation and promises to release further details as they become available.
Stolen Assets and Market Impact
According to the official announcement, approximately $30 million worth of SOL assets have been stolen in the breach. This alarming news has triggered a drastic decline in the value of Step Finance's native token, STEP, which has plummeted by about 73.98%, now trading at $0.0006050.
Market Capitalization and Exchange Listing
The market capitalization of STEP has also taken a hit, dropping to around $133 million as selling pressure mounts in the wake of the incident. The token is currently listed on Kraken, one of the major cryptocurrency exchanges. Step Finance, recognized for its portfolio management and transaction aggregation services within the Solana ecosystem, is now facing significant challenges as it navigates this crisis.
The recent security breach at Step Finance has drawn attention to the broader issues of asset security in the cryptocurrency space. In a related incident, the Lazarus Group has reportedly laundered $160 million in stolen assets within 48 hours. For more details, see read more.
