SolanaFloor restarts under Jito Foundation after $40M exploit
Data and journalism platform SolanaFloor, which was shut down at the end of February following its parent company’s $40 million exploit, will resume operations under new ownership. Jito Foundation, focused on liquid staking and infrastructure, has decided to support journalism in the Solana ecosystem.
Highlights
- SolanaFloor restarts under Jito Foundation after $40M exploit.
- Jito Foundation to enhance trust, analytics, and DeFi integration.
- Step Finance closure spurs renewed media and ecosystem growth.
Successful search for a new owner
According to a press release provided to Cointelegraph, SolanaFloor will restart its activities under the aegis of Jito Foundation and continue publishing content on events in the Solana ecosystem.
Previously, the data and journalism platform was owned by Step Finance. However, the company announced its closure after its treasury wallet was hacked at the end of January, resulting in the loss of $40 million in Solana tokens.
According to blockchain security company CertiK, the attacker gained access to the wallet of one of the company’s owners, withdrawing and transferring over 261,854 SOL from staking to other wallets.
The exploit affected not only SolanaFloor but also the lending and yield protocol Remora Markets, while Step Finance’s native token (STEP) plummeted by 90%. Last month, Step Finance was seeking investors, but on February 26 it announced the closure of SolanaFloor.
Although the financial terms of the deal have not been disclosed, and details of SolanaFloor’s new editorial structure, team, and plans are likely to be released after the relaunch, Jito Foundation’s involvement may indicate broader support in reviving Step Finance’s business.
New opportunities and prospects
In any case, Jito Foundation’s support could significantly increase trust in SolanaFloor among ecosystem participants, given the foundation’s experience in liquid staking and Solana infrastructure projects. This also opens opportunities for integrating analytics and news content with DeFi products and infrastructure services, enhancing the value of information provided by SolanaFloor.
Moreover, the relaunch of SolanaFloor under new ownership could act as a catalyst for reviving Solana’s media and analytics ecosystem, encouraging developers, investors, and the community to participate more actively, ensuring transparency and collectively strengthening security after Step Finance’s high-profile incident.
As we wrote, Jito gains 7.59% as APAC expansion boosts crypto price prediction
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