SolanaFloor Acquisition Revives Solana News After $40M Hack

Jito Foundation acquired SolanaFloor this week. The solanafloor acquisition brings back the shuttered Solana journalism platform three months after a $40 million hack killed its parent company.

Step Finance got drained in January. Lost $40 million in SOL. Shut down everything—the DeFi aggregator, the lending protocol Remora Markets, and SolanaFloor. The news site went dark in February.

Now it’s back.

Jito Foundation—the organization behind Solana’s liquid staking and block-building infrastructure—bought the platform and plans to relaunch it. No price disclosed. Financial terms stayed private.

SolanaFloor covered Solana ecosystem news, research, and on-chain analytics before the shutdown. Tracked projects. Monitored market activity. Provided data most Solana traders actually used.

The Hack That Killed Step Finance

Step Finance announced the breach January 31st. Treasury wallet compromised. Attackers unstaked and transferred 261,854 SOL tokens, per blockchain security firm CertiK. At the time, that was roughly $40 million.

The company brought in cybersecurity firms to investigate. Didn’t matter. Damage was done. Step Finance announced closure shortly after, taking SolanaFloor and Remora Markets down with it.

I’ve seen this pattern before. One breach. Multiple projects dead. DeFi’s interconnected risk model: when the parent company’s treasury evaporates, everything downstream shuts off. Not ideal.

What the SolanaFloor Acquisition Means

Jito Foundation stepped in to save one piece of the wreckage. The solanafloor acquisition gives the Solana ecosystem back its dedicated news and data platform. Jito coordinates grants, partnerships, and development initiatives across Solana—adding a media arm fits that mission.

Editorial structure and team details haven’t been announced yet. Neither have commercial offerings. Those come after relaunch.

The timing matters. Solana’s had a rough 2025. SOL is down significantly from peaks. ETF launches disappointed. Market share eroded. Losing a dedicated journalism platform in February didn’t help visibility when the ecosystem needed it most.

Broader Security Context

Step Finance wasn’t alone. Hacks drained $3.4 billion from crypto in 2025, according to blockchain analytics firm Chainalysis. Three incidents accounted for 69% of total losses. Bybit lost $1.4 billion in one breach.

North Korean hacking groups stole $2.02 billion during the year. Their tactics evolved: placing covert IT workers inside crypto projects, building access over months, then striking when treasuries were fat.

The Step Finance breach followed that playbook. Treasury wallet access. Clean extraction. 261,854 SOL moved in one go. By the time anyone noticed, funds had already scattered.

Security audits didn’t catch it. Multi-sig wallets didn’t stop it. Same story every cycle: projects secure the protocol, ignore operational security, get wrecked on the backend.

What’s Next for SolanaFloor

Jito Foundation hasn’t announced a relaunch date. Expect more details on editorial direction, team composition, and whether the platform retains its previous data analytics tools.

The solanafloor acquisition salvages institutional knowledge and brand recognition that would’ve disappeared otherwise. Whether Jito can rebuild the team and maintain editorial independence remains the question.

For now, Solana gets its news platform back. After three months dark, that’s something.

Relaunch timeline: to be announced. Until then, one less casualty from the Step Finance collapse.