TechFlow reports that on February 3, Step Finance officially confirmed a security incident that occurred on January 31, during which approximately $40 million was stolen from its treasury due to a compromise of the execution team’s devices. Step Finance is now collaborating with cybersecurity researchers and relevant authorities to investigate the incident and has notified law enforcement agencies.
During this period of enhanced security measures, Step Finance has temporarily suspended several operational activities. Leveraging Token22’s built-in security protections and rapid coordination with partners, Step Finance has successfully recovered approximately $3.7 million worth of Remora assets and $1 million worth of other assets.
The official recommendation is for users to refrain from interacting with the STEP token until the investigation concludes. The project team will take a snapshot of holdings prior to the attack and is actively developing solutions for STEP token holders. Remora Markets remains unaffected by this incident, and all rTokens continue to be fully backed 1:1 by custodial collateral.
