$SOL Step Finance, SolanaFloor And Remora Markets Cease All Operations Following 40 Million Dollar Hack
The Solana ecosystem has just received some unhappy news as a familiar project officially announced its closure after unsuccessful recovery efforts from a severe security incident.
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🔸 According to the latest reports Step Finance has officially announced the cessation of all business operations including its core platform along with SolanaFloor and Remora Markets.
🔸 This difficult decision was made after the project suffered a cyber attack causing a loss of about 40 million USD in late January making all options to raise funds or seek acquisition unfeasible.
🔸 To address the aftermath the development team is building a buyout plan for Step token holders based on pre incident snapshot data while providing a 1 1 redemption process for Remora rToken holders.
With the collapse of a once very popular portfolio management platform on Solana are trader friends worried about the security risks of current DeFi projects or do you see this as a natural market purification process?
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