Crypto Scenario Insights

Step Finance Attacker Liquidates SOL for ETH: Localized Impact or Broader Concern?

What happened

An attacker linked to Step Finance liquidated 261,933 SOL for $21.4 million after five months of inactivity, then converted the funds to 12,128 ETH and deposited them into Tornado Cash.

What we think

The most likely outcome is a contained, short-term impact on SOL's price due to the $21.4 million liquidation, with a 60% probability.

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Step Finance Attacker Liquidates SOL for ETH: Localized Impact or Broader Concern?

We explain what happened and what could follow. We do not forecast prices.

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