Step Finance hack incident statement: Approximately $40 million stolen, it is recommended to temporarily refrain from using STEP tokens

Step Finance issued a statement regarding a hacking incident on platform X, disclosing that approximately $40 million was stolen from its treasury due to the compromise of an executive's device. After detecting the security vulnerability, they collaborated with cybersecurity researchers and relevant authorities to initiate an investigation into the attack and notified law enforcement. During this period, some operational activities were temporarily halted, and approximately $3.7 million in Remora assets and $1 million in other positions have been recovered.

As the largest liquidity provider for Remora Markets, LP activities will resume once the system is fully secure. Remora Markets is not related to this incident, and all rTokens are still backed 1:1 by custodial collateral. At this stage, it is advised that anyone refrain from using STEP tokens until the investigation is complete. A system snapshot will be taken prior to the exploitation to ensure the safety of STEP token holders, and any updates will be released immediately once there is progress.