BloomTrading Pledges Refunds After $954K Solana Wallet Drain

TLDR

• Blockchain investigators linked about 9,408 SOL, worth around $954,000, to 49 suspected victim wallets.
• BloomTrading said it will fully reimburse nine affected wallets through new addresses chosen by their owners.
• The largest single loss was 1,636 SOL, valued at about $166,000 at the time.
• The company is investigating whether a third-party service provider was compromised.
• BloomTrading has not shared a payment schedule or explained the gap between nine and 49 affected wallets.

BloomTrading, a cryptocurrency trading bot used by Solana traders, has promised to repay users after nearly $1 million in SOL was drained from wallets linked to its platform.

In an October 26 statement, the company said it would fully compensate nine affected wallets. It plans to send replacement funds to new addresses picked by the wallet owners.

The announcement came after traders reported unauthorized withdrawals from wallets connected to the automated trading service.

Investigators Track Nearly $1 Million in Missing Solana

Blockchain monitoring account Onchain Lens identified about 9,408 SOL sent from 49 suspected victims. The funds were worth roughly $954,000.

The largest single loss was 1,636 SOL, valued at about $166,000 at the time. The estimate only covers transfers to one suspected receiving address, so total losses could be higher.

One trader, Domy, said three wallets had been drained of about 800 SOL. Domy shared the affected addresses and asked for help contacting crypto exchanges to trace the funds.

In a separate post, Domy reported another unexpected transfer worth about $64,000. The trader also shared a Solscan transaction record.

Another trader, Pikalosi, described losses hitting members of the Solana trading community. Pikalosi asked others not to blame victims for their trading strategies.

Several complaints involved wallets whose private keys had been imported into the trading bot. Investigators have not confirmed whether those keys were exposed.

A private key lets its holder approve transactions. If someone else obtains it, disconnecting the wallet from an app will not stop them from moving the remaining funds.

Some users said their USDC balances stayed untouched while their SOL disappeared. This pattern has not been confirmed across all affected wallets.

BloomTrading Promises to Cover Losses

BloomTrading turned down suggestions that users set up a community relief fund. The company said it would cover the losses itself.

“We’re still actively investigating the root cause,” BloomTrading said. The company noted its review would examine whether a third-party service provider was compromised.

The company has not shared a payment schedule, the total amount it expects to refund, or how it will verify claims. Its count of nine affected wallets also differs from the 49 suspected victims found by blockchain monitoring.

Reports say some trading services were paused during the investigation. Which features were affected, and whether they have been restored, has not been independently confirmed.

The incident follows an Avici wallet exploit in September. In that case, unauthorized transactions reportedly caused more than $1 million in losses among Solana users.

Users whose keys may have been exposed are advised to move remaining assets to wallets with entirely new keys. Revoking app permissions alone cannot fix a compromised private key.

BloomTrading has not yet identified a confirmed vulnerability or blamed an outside attacker. The company said its priorities are paying affected users, finding the cause, and preventing another incident.

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