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The Financial Ways
The Financial Ways
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Cryptocurrency

BloomTrading Pledges Refunds After $954,000 Solana Drain

Nearly $1 million in Solana vanished from user wallets connected to the automated trading platform BloomTrading, prompting the company to promise full reimbursements for nine affected accounts. While the firm investigates a potential third-party security breach, blockchain analysts suggest the total scale of the losses may be significantly wider.

BloomTrading Pledges Refunds After $954,000 Solana Drain

Onchain Lens identified approximately 9,408 SOL, valued at roughly $954,000, linked to suspicious transfers from 49 different wallets. Among the victims, one trader reported a single loss of 1,636 SOL, or about $166,000. In response to the growing outcry, BloomTrading stated it would transfer replacement funds to nine specific wallets, though the company has yet to clarify why its count of victims differs from the larger figure identified by investigators.

The incident has renewed focus on the security risks of cryptocurrency trading bots, particularly those requiring users to import private keys. Some affected traders noted that while their SOL holdings were drained, their USDC balances remained untouched. BloomTrading has not confirmed whether the breach originated from their own infrastructure or an external service provider. While the platform continues its internal inquiry, they have advised users that simply revoking application permissions is insufficient if private keys have been compromised, recommending that traders migrate assets to entirely new, secure addresses.

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