On January 31, 2026, Step Finance suffered a $40 million operational loss when attackers compromised executive team devices, gaining unauthorized access to treasury and fee wallet signing keys/credentials. The protocol had no smart contract vulnerabilities.

Step Finance has issued a statement on X regarding a recent exploit, disclosing that approximately $40 million was stolen from its treasury due to a compromise of an executive's device. Upon detecting the vulnerability, Step Finance launched an investigation in collaboration with cybersecurity researchers and relevant authorities, and has notified law enforcement. While certain operations were temporarily suspended during this period, the team has successfully recovered approximately $3.7 million in Remora assets and $1 million in other positions.