Solareum to Close Shop Following $500,000 Exploit
On March 31, Solareum, a Telegram trading bot for trading Solana-based tokens, announced its closure after an exploit resulted in the theft of over 2,000 Solana (SOL) tokens from users’ wallets.
The developers disclosed the shutdown via a Telegram message via the support channel of the Solareum trading bot.
“Unfortunately, due to a combination of insufficient funds, evolving market trends, and a recent security breach to our systems, we find ourselves compelled to make this difficult decision,” the message read.
solareum devs confirm they are closing the project
Full message in next tweet pic.twitter.com/xqHtgxVfwG
— king.sol (@DeFiAzog) March 30, 2024
Solareum’s team further noted that the platform can no longer “assure the safety of users due to lack of funds” and failed efforts to secure additional funding after the exploit.
The Telegram trading bot suffered a loss of over 2,800 SOL tokens, estimated at $523K, from 302 Solana users on March 29. This was caused by an alleged leak of private keys, which enabled wallet drainers to steal the tokens
Meanwhile, BONKbot, the biggest Telegram trading bot on Solana, was initially suspected of being behind the exploit, as it recorded 113 victims from the compromised 302 wallet addresses.
<0.1% of BONKbot users who've exported their PK were affected. Our analysis strongly suggests the exploit occurred from those victims importing PKs into a specific application.
Data so far:
– total victims: 302
– BONKbot victims: 113
– keyExported from BONKbot: 113
– total SOL…
— BONKbot (@bonkbot_io) March 29, 2024
However, the security team behind BONKbot swiftly refuted the allegations. According to their public statement, all affected users had previously exported and used their private keys on a Telegram
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