Cryptohack Roundup: Step Finance Shuts Down After Exploit

Also: IoTex Bridge Exploit Linked to Private Key Breach Rashmi Ramesh (rashmiramesh_) • February 26, 2026

Every week, Information Security Media Group rounds up cybersecurity incidents in digital assets. This week, Step Finance shuts down, IoTeX bridge exploit, Russia-linked exchanges help evade sanctions, Australian charged in $3.5M scam, hacker returns $21M in seized bitcoin to South Korean prosecutors and Malaysia arrested 12 officers in an extortion case.

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Step Finance, a Solana-based portfolio management platform, said it will cease operations after failing to recover from a Jan. 31 incident that drained $40 million from its treasury and fee wallets. In a post on social media network X, the team said it could not secure external liquidity and that acquisition talks and fundraising efforts collapsed in the weeks following the exploit.

The shutdown affects Step Finance and its subsidiaries, including media outlet ...