On March 29, 2024 Solareum (Solana-based Telegram trading bot) suffered a major security breach when a North Korean developer hired by Solareum compromised users' private keys imported into the bot through insecure storage, likely via third-party service vulnerability. Over 6,045 SOL (valued at $1.4M) from approximately 300+ users were stolen.

The Solana ecosystem is grappling with a spate of drained wallets. A cause has yet to be definitively determined, but some of the thefts were linked to the use of trading bots like Solareum. According to security researcher Plum, the Solareum Telegram trading bot vulnerability resulted in a loss of assets worth approximately $1 million.