Step Finance $30M Treasury Breach & Phishing Wave

Risk Level: Critical (Impacts Solana Ecosystem & Stakers)

1. The Incident: $30M SOL Unauthorized Outflow

Within the last 12 hours, Step Finance, a leading portfolio manager on Solana, confirmed a significant security breach affecting several of its treasury and fee-collection wallets.

• The Loss: On-chain data tracked approximately 261,854 SOL (valued at nearly $30 million) being unstaked and moved to an unverified attacker’s address.
• The Mechanism: Analysts suggest the unstaking process preceded the transfers, indicating a deliberate manual compromise of treasury keys rather than a simple automated smart contract exploit.
• Current Status: Step Finance has paused affected treasury operations and engaged external cybersecurity specialists for forensic analysis.

2. The Trap: “Emergency” Phishing & Impersonation

The most dangerous part of this breach for retail users is not the treasury loss, but the secondary scam wave currently flooding X (formerly Twitter).

• The Hook: Scammers are using “Verified” Blue Checkmark accounts to impersonate Step Finance (@StepFinance_).
• The Fake Fix: They are posting links to “Security Portals” or “Asset Migration Tools,” claiming users must “re-verify” or “secure” their staked SOL to prevent loss.
• The Reality: These are wallet drainers. If you connect your wallet and sign a transaction, your personal funds—not just the treasury’s—will be stolen.

3. The ShieldGuard Reality Check

To protect your assets during this crisis, follow these non-negotiable rules:

1. Direct User Funds Are Safe: The breach occurred in Step Finance Treasury wallets, not user-custodied wallets. If your SOL is in your own Phantom/Solflare wallet, it is safe unless you interact with a scam link.
2. Official Silence on DMs: Step Finance will never DM you or ask you to “connect your wallet” to a website to “verify” your funds during an investigation.
3. The “Unstaking” Delay: Real Solana unstaking takes an epoch (approx. 2–3 days). Any service promising “Instant Protection” or “Instant Unstaking” is a fraud.

4. Preventive Education: Your Defensive Action Plan

• Revoke Permissions: If you have interacted with Step Finance recently and are nervous, use tools like Solana Manager or Guarda to revoke active smart contract permissions.
• Verify Official Handles: Always check the follower count and join date. The real Step Finance account has a long history and will be tagged by other reputable Solana projects like the Solana Foundation.
• Don’t Panic-Sign: Scammers rely on “Urgency Bias.” If a post tells you that you have “only 1 hour to secure your funds,” it is almost certainly a scam.
• Follow Forensic Updates: Monitor verified on-chain sleuths like ZachXBT for the movements of the stolen 261k SOL.

5. ShieldLabs Perspective: The Rise of Treasury Targeting

Our ShieldLabs team notes that in 2026, attackers are increasingly targeting “Management” and “Treasury” layers of DeFi protocols rather than individual users. By draining the treasury, they create a panic that allows them to “double-dip” by phishing the scared community members.

Your Security is Our Protocol. Stay informed. Stay protected. Stay with ShieldGuard.

ShieldGuard Protocol ($SHPRO) www.ShieldGuard.io | 

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