Step Finance announced it is winding down operations after a Jan. 31 security breach in which 261,854 SOL (about $27 million) were unstaked and transferred. The shutdown includes subsidiaries SolanaFloor and Remora Markets. Step said financing and acquisition options were explored but no viable outcome was secured. The team plans a STEP token buyback using a pre-incident snapshot and a redemption process for Remora rToken holders. The STEP token collapsed ~96% after the hack and fell further after the closure announcement; Solana DeFi TVL is roughly 52% below its peak.

Facts from the summary: 261,854 SOL (~$27M) were unstaked and transferred in a Jan. 31 security breach; Step Finance and subsidiaries are winding down after exploring financing/acquisition options; STEP buyback and Remora rToken redemption are planned; STEP token dropped ~96% and fell further after the closure; Solana DeFi TVL is ~52% below its peak.