Step Finance, SolanaFloor, and Remora Markets will cease all operations

Foresight News reports that Step Finance announced on Twitter that Step Finance, SolanaFloor, and Remora Markets will cease all operations. “Following the hacking incident at the end of January, we explored all possible options, including fundraising and acquisition opportunities. Unfortunately, we were unable to achieve a viable outcome, so we have decided to immediately terminate all business activities. We are developing a buyback plan for STEP holders based on a snapshot taken before the incident, and a redemption process for Remora rToken holders. Remora tokens still maintain a 1:1 reserve ratio.”

Foresight News previously reported that Step Finance issued a statement regarding the hacking incident, stating that the attack originated from an intrusion into the company’s executive devices, resulting in approximately $40 million worth of assets being stolen from the treasury. After discovering the security vulnerability, the team promptly engaged cybersecurity researchers and relevant authorities for investigation, notified law enforcement, and temporarily halted some operations.