Another DeFi treasury just got drained.
By Maxime Laurent · 2026-02-01 09:16
Another DeFi treasury just got drained.
Step Finance confirms a hack: ~$30M in $SOL pulled from staking and moved on-chain.
Bad morning for Solana DeFi. Step Finance just reported a breach affecting several treasury and fee wallets. The team says an investigation is ongoing, but on-chain doesn’t wait for press releases.
According to the data, around 261,854 $SOL was unstaked and transferred, roughly $30 million at current prices. Clean execution, fast moves, no drama — the usual signature of someone who knew exactly where to hit. These aren’t user wallets, but protocol funds, which makes it even more uncomfortable.
What I keep thinking about is fatigue. Not panic — fatigue. We’ve seen this movie too many times. Treasuries, multisigs, hot wallets, “secure setups”… until one assumption breaks. DeFi isn’t fragile tech anymore, it’s fragile operations. And attackers specialize in that.
Solana itself isn’t the story here. This could’ve happened anywhere. Smart contracts are only as strong as the humans guarding the keys. And humans get tired, sloppy, overconfident. Classique.
Decentralization is a goal, not a default state. And every hack reminds us how far we still are. Pas ouf. 😮💨
#defi #solana #security #hack #onchain #crypto #risk #staking
Step Finance confirms a hack: ~$30M in $SOL pulled from staking and moved on-chain.
Bad morning for Solana DeFi. Step Finance just reported a breach affecting several treasury and fee wallets. The team says an investigation is ongoing, but on-chain doesn’t wait for press releases.
According to the data, around 261,854 $SOL was unstaked and transferred, roughly $30 million at current prices. Clean execution, fast moves, no drama — the usual signature of someone who knew exactly where to hit. These aren’t user wallets, but protocol funds, which makes it even more uncomfortable.
What I keep thinking about is fatigue. Not panic — fatigue. We’ve seen this movie too many times. Treasuries, multisigs, hot wallets, “secure setups”… until one assumption breaks. DeFi isn’t fragile tech anymore, it’s fragile operations. And attackers specialize in that.
Solana itself isn’t the story here. This could’ve happened anywhere. Smart contracts are only as strong as the humans guarding the keys. And humans get tired, sloppy, overconfident. Classique.
Decentralization is a goal, not a default state. And every hack reminds us how far we still are. Pas ouf. 😮💨
#defi #solana #security #hack #onchain #crypto #risk #staking
Disclaimer: This content is for informational purposes only and not financial advice.