Jito Foundation Acquires SolanaFloor Following $27M Step Finance Exploit
Jito Foundation announced it has taken over SolanaFloor after the protocol went offline last month amid a $27 million exploit linked to its parent company, Step Finance. The acquisition follows SolanaFloor’s shutdown and the community scramble to secure funds and assess damage. Jito says the takeover is intended to preserve core services and give the project time for a forensic review and remediation.
The rescue matters because it reduces immediate operational risk and signals active stewarding within the Solana ecosystem, potentially limiting contagion from the Step Finance incident. For users and counterparties, Jito’s involvement should help restore confidence while audits and recovery plans proceed. Market and governance watchers will be looking for further disclosure on liabilities, timelines for restarting services, and steps to harden security going forward.