Bonked 🏏 Over the weekend, users on Solana had their wallets drained of over $523K in SOL, with some claiming that Telegram trading bots such as BONKbot are to blame for the exploit. However, BONKbot has denied these accusations, claiming its platform remains secure. BONKbot, a Telegram bot that allows users to trade Solana-based tokens quickly, suggested that users may have been exploited by interacting with other vulnerable applications. Based on the team's analysis, only 113 out of the 302 confirmed victims were BONKbot users, who had likely exported their private keys to other applications within the Solana ecosystem.
In fact, more than half of the exploited wallets, totaling approximately 189 users, were not related to BONKbot. As it turns out, the main cause behind the exploit was a security breach on a different Solana trading bot known as Solareum, which allowed hackers to gain access to users' private keys.
The project has since announced its closure, citing additional reasons of 'insufficient funds and evolving market trends,'
Editor's Take: The recent wallet-draining attacks serve as a good reminder as to the safety of trading bots as a whole. In exchange for speed and convenience, your private keys are never really private to begin. As such, it's always better to only place what you are willing to lose in these bots and withdraw any sizeable amounts back into the safety of your own self-custodial wallet. | 
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