Incident Score: Analysis & Impact (STE1770252177)
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Rankiteo Score Impact Analysis
Key Highlights From The Incident Analysis
- Timeline of Step Finance's Breach and lateral movement inside company's environment.
- Overview of affected data sets, including SSNs and PHI, and why they materially increase incident severity.
- How Rankiteo’s incident engine converts technical details into a normalized incident score.
- How this cyber incident impacts Step Finance Rankiteo cyber scoring and cyber rating.
- Rankiteo’s MITRE ATT&CK correlation analysis for this incident, with associated confidence level.
Full Incident Analysis Transcript
In this Rankiteo incident briefing, we review the Step Finance breach identified under incident ID STE1770252177.
The analysis begins with a detailed overview of Step Finance's information like the linkedin page: https://www.linkedin.com/company/step-finance, the number of followers: 0, the industry type: Technology, Information and Internet and the number of employees: 3 employees
After the initial compromise, the video explains how Rankiteo's incident engine converts technical details into a normalized incident score. The incident score before the incident was 806 and after the incident was 715 with a difference of -91 which is could be a good indicator of the severity and impact of the incident.
In the next step of the video, we will analyze in more details the incident and the impact it had on Step Finance and their customers.
On 31 January 2024, Step Finance disclosed Data Breach issues under the banner "Step Finance Suffers $40 Million DeFi Breach on Solana Blockchain".
Step Finance, a decentralized finance (DeFi) platform operating on the Solana blockchain, disclosed a major security breach on January 31, resulting in the theft of approximately $40 million in digital assets.
The disruption is felt across the environment, affecting Treasury wallets, platform operations, and exposing Digital assets, plus an estimated financial loss of $40 million.
In response, moved swiftly to contain the threat with measures like Temporary suspension of some operations, coordination with partners, and began remediation that includes Recovery of $3.7 million in Remora assets and $1 million in other positions, Token22 protections.
The case underscores how Ongoing, teams are taking away lessons such as Ongoing security vulnerabilities in the DeFi sector, need for enhanced executive device security and treasury wallet protections.
Finally, we try to match the incident with the MITRE ATT&CK framework to see if there is any correlation between the incident and the MITRE ATT&CK framework.
The MITRE ATT&CK framework is a knowledge base of techniques and sub-techniques that are used to describe the tactics and procedures of cyber adversaries. It is a powerful tool for understanding the threat landscape and for developing effective defense strategies.
MITRE ATT&CK® Correlation Analysis
Rankiteo's analysis has identified several MITRE ATT&CK tactics and techniques associated with this incident, each with varying levels of confidence based on available evidence. Under the Initial Access tactic, the analysis identified Valid Accounts (T1078) with high confidence (90%), supported by evidence indicating compromise of devices belonging to the company’s executive team and Exploitation of Remote Services (T1210) with moderate to high confidence (70%), supported by evidence indicating exploit leveraged a well-known attack vector. Under the Credential Access tactic, the analysis identified Unsecured Credentials (T1552) with moderate to high confidence (80%), supported by evidence indicating granting unauthorized access to multiple treasury wallets and Credentials from Password Stores (T1555) with moderate to high confidence (70%), supported by evidence indicating compromise of executive devices. Under the Lateral Movement tactic, the analysis identified Remote Services (T1021) with moderate to high confidence (80%), supported by evidence indicating access to multiple treasury wallets from compromised devices. Under the Collection tactic, the analysis identified Data from Local System (T1005) with high confidence (90%), supported by evidence indicating theft of approximately $40 million in digital assets. Under the Exfiltration tactic, the analysis identified Exfiltration Over C2 Channel (T1041) with moderate to high confidence (80%), supported by evidence indicating theft of $40 million in digital assets. Under the Impact tactic, the analysis identified Data Encrypted for Impact (T1486) with lower confidence (30%), supported by evidence indicating no details on encryption, but financial theft implies impact and Financial Theft (T1657) with high confidence (90%), supported by evidence indicating theft of approximately $40 million in digital assets. Under the Defense Evasion tactic, the analysis identified Valid Accounts (T1078) with moderate to high confidence (80%), supported by evidence indicating unauthorized access via compromised executive devices. These correlations help security teams understand the attack chain and develop appropriate defensive measures based on the observed tactics and techniques.
Sources & References
- Step Finance Rankiteo Cyber Incident Details: https://www.rankiteo.com/company/step-finance/incident/STE1770252177
- Step Finance CyberSecurity Rating page: https://www.rankiteo.com/company/step-finance
- Step Finance Rankiteo Cyber Incident Blog Article: https://blog.rankiteo.com/ste1770252177-step-finance-breach-february-2026/
- Step Finance CyberSecurity Score History: https://www.rankiteo.com/company/step-finance/history
- Step Finance CyberSecurity Incident Source: https://www.scworld.com/brief/step-finance-loses-40-million-in-executive-device-hack
- Rankiteo A.I CyberSecurity Rating methodology: https://www.rankiteo.com/Images/rankiteo_algo.pdf
- Rankiteo TPRM Scoring methodology: https://static.rankiteo.com/model/rankiteo_tprm_methodology.pdf