#defirisk — Public Fediverse posts

Incident Overview:
Platform: Step Finance
Loss: ~$40M treasury theft
Vector: Compromised executive devices
Status: Operations terminated

Recovery efforts:
• ~$3.7M Remora assets recovered
• ~$1M additional tokens recovered
• Snapshot-based reimbursement for STEP holders
• Buyback + redemption process underway

Collateral shutdown:
Remora Markets, SolanaFloor

Strategic insight:
Executive endpoint compromise → treasury compromise.

Crypto treasury management must incorporate hardened device policies, hardware-backed key storage, enforced MFA, anomaly detection.

Source: https://therecord.media/step-finance-cryptocurrency-theft-shutdown

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