Bloom Trading Pauses Services After $954K Solana Drain

Bloom Trading paused some services on October 26 after about $954,000 in Solana was drained from 49 wallets linked to nine users. The Telegram-based trading bot is investigating the incident and has promised to reimburse the affected users in full.

About 9,408 SOL was transferred to a single suspected drainer address, according to blockchain data. The largest reported transfer was 1,636 SOL, worth about $166,000 at the time. Some affected users reported losses of about $80,000.

Bloom clarified that the 49 wallets belonged to nine users, meaning some users had multiple wallets drained. The company has not identified how the attacker gained access or confirmed whether a third-party provider was involved.

“Our team is currently investigating the issue. All other wallets remain safe,” Bloom wrote in a statement. The company added that it was “temporarily disabling some services” as a precaution and was working to restore them.

Bloom plans to send full reimbursements to new, secure wallets chosen by the affected users. It has not provided a timetable for the payments or the full restoration of its services.

The drain mainly affected SOL, based on reports from affected users. USDC held in the same wallets was reportedly not transferred. Bloom has not confirmed why the attacker targeted SOL or whether the transfers were limited by the method used to access the wallets.

Bloom operates a custodial trading service. It generates and stores private keys for wallets managed through its platform, allowing its backend to sign transactions for users. A compromise of its key-storage system or related infrastructure could therefore affect multiple wallets.

The company describes Bloom as an automated trading tool for Solana and EVM-compatible blockchains. Its website says the platform has processed more than $4.5 billion in cumulative trading volume and serves more than 70,000 active traders.