BloomTrading Pledges Refunds Following Solana Wallet Drains

Cryptocurrency automated trading platform BloomTrading has pledged to reimburse nine affected wallets following unauthorized withdrawals, according to CryptoNews. The announcement follows reports from traders who discovered missing funds tied to the platform.

Blockchain monitoring accounts identified approximately 9,408 SOL in suspicious transfers directed to an address associated with 49 suspected victims. The total stolen assets reached approximately $954,000, with individual losses including a single account losing 1,636 SOL, valued at roughly $166,000 at the time of the incident.

Investigation and Reimbursement Plans

BloomTrading stated that it is actively investigating the root cause of the incident, including the possibility of a third-party service provider compromise. The platform rejected suggestions for a community relief fund, stating its intent to cover losses directly by transferring replacement funds to new addresses designated by the owners.

However, the platform's count of nine affected wallets differs from the 49 suspected victims identified by preliminary blockchain monitoring. BloomTrading has not yet disclosed a payment schedule, the total expected refund amount, or a verification method for claims.

Wallet Security Concerns

Several complaints highlighted that private keys had been imported into the trading bot, raising questions about wallet security. Investigators noted that importing private keys into automated services exposes wallets if the underlying service is compromised, and simply revoking application permissions does not invalidate an exposed key.

Key facts

• BloomTrading pledged to fully compensate nine affected wallets with replacement funds.
• Blockchain investigators linked approximately 9,408 SOL, valued at about $954,000, to 49 suspected victim wallets.
• The largest individual loss reported reached 1,636 SOL, worth approximately $166,000.
• BloomTrading is investigating whether a third-party service provider suffered a security compromise.