A decentralized finance platform Step Finance was hacked on January 31, 2026, resulting in an estimated $40 million worth of crypto assets stolen. The breach occurred after devices used by executives were compromised, giving attackers unauthorized access to the platform’s treasury. Initial losses included approximately 261,854 SOL (about $28.9M), though part of the stolen assets have since been recovered through security features and partnerships. Step Finance has paused some operations and strongly advises users to avoid trading in STEP tokens while investigations continue. This incident marks one of the largest DeFi hacks of 2026 so far, highlighting ongoing security risks in decentralized finance.