The Jito Foundation, a key organization supporting development within the Solana ecosystem, has acquired SolanaFloor, a respected data and journalism platform that ceased operations earlier this year. The planned relaunch follows the platform’s shutdown after a significant security incident at its parent company.
SolanaFloor, known for its ecosystem news, research, and on-chain analytics tracking projects and market activity on the Solana network, went offline in February. Its parent entity, Step Finance—a Solana DeFi aggregator—wound down operations after a treasury wallet breach in late January that drained approximately $40 million in Solana (SOL) tokens. The closure also affected other affiliated projects, including the lending protocol Remora Markets.
According to a press release shared with Cointelegraph, SolanaFloor will resume publishing under the Jito Foundation’s umbrella. Awais Afzal, editor at SolanaFloor, confirmed that the platform’s existing editorial team has been absorbed and will remain in place post-relaunch. He emphasized that day-to-day editorial operations will be conducted independently from the Jito Foundation, a structure designed to preserve journalistic integrity.
The Jito Foundation focuses on supporting development around the Jito protocol, which provides liquid staking and block-building infrastructure for Solana. The foundation coordinates grants, partnerships, and initiatives aimed at bolstering activity across the network. Further details regarding SolanaFloor’s full editorial structure, team composition, and commercial offerings are expected after the site’s return. Financial terms of the acquisition were not disclosed.
Step Finance Hack: A Catalyst for Ecosystem Disruption
The shutdown of SolanaFloor was a direct consequence of the security breach at Step Finance. Announced on January 31, the attack involved the unauthorized transfer of more than 261,854 SOL tokens after they were unstaked from the compromised treasury wallet. Step Finance engaged cybersecurity firms to investigate the incident, and blockchain security company CertiK later provided specifics on the token movement.
This event underscored the persistent vulnerability of even established projects within the crypto sector. The forced wind-down of multiple interconnected platforms—a Solana news outlet, a DeFi aggregator, and a lending protocol—highlighted how a single security failure can cascade through an ecosystem.
The Broader Context: Crypto Security in 2025
Security breaches remain a critical and costly challenge across the cryptocurrency industry. A December 2024 report from blockchain analytics firm Chainalysis estimated that hackers stole approximately $3.4 billion in cryptocurrency during 2024. A significant concentration of these losses was driven by a few large-scale attacks; Chainalysis noted that just three incidents accounted for roughly 69% of the total funds stolen that year. This included the high-profile $1.4 billion breach of the crypto exchange Bybit.
The report also attributed a substantial portion of these thefts to state-affiliated actors, specifically North Korean hacking groups, which were responsible for $2.02 billion in stolen cryptocurrency in 2024. These groups frequently employ sophisticated social engineering tactics, such as placing covert IT workers inside targeted crypto projects, to gain access and execute attacks.
The acquisition and planned revival of SolanaFloor by the Jito Foundation represents a step toward restoring institutional and data infrastructure within the Solana ecosystem after a disruptive security event. Its relaunch will be closely watched as an indicator of both the platform’s resilience and the broader network’s recovery capacity.
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