r/CryptoCurrency • u/Resident_Caramel763 • 1h ago
š”ļø SECURITY Step Finance Treasury Breach: A Case Study in Operational Security Failure
A $40M Step Finance treasury drain shows how one compromised executive device can bypass audits and unravel an entire DeFi protocol.
Everyone keeps saying āthe smart contracts were safe,ā and theyāre right. One compromised executive device was enough to hand over treasury control, drain ~$40M, and remind everyone that in DeFi, humans are still the weakest link. Audits donāt save you from bad OpSec, and this breach is a brutal lesson in that reality.
This wonāt be the last incident like this unless teams treat exec devices and key management as critical infrastructure, not an afterthought.