Solareum, a Solana-based trading bot on Telegram, is shutting down due to insufficient funds and a recent security breach.

The breach resulted in the loss of over 2,800 Solana tokens worth around $520,000 from more than 300 users.

Initially, BONKbot was suspected, but they denied involvement, blaming it on a widespread exploit affecting multiple projects.

Solareum insists they didn't steal money but acknowledges users' wallets were drained, possibly due to exploitation.

They're trying to freeze stolen funds if they reach centralized exchanges and advise users to retrieve their assets promptly.

Solana's popularity has attracted scammers, with some communities having over 6,000 members devoted to wallet draining kits.