Solareum, a Solana-based (CRYPTO:SOL) Telegram trading bot, has announced its permanent shutdown due to insufficient funding, changing market trends, and a recent security compromise.

The closure was disclosed by the developers on the Telegram Solareum support channel and shared on X (formerly Twitter) by 'king.sol,' co-founder of the BONKbot trading bot, on March 31.

The team expressed deep regret over the decision, citing financial constraints, shifts in the cryptocurrency market, and a recent security breach as the primary reasons for discontinuing the project.

These challenges collectively rendered the Solareum project unsustainable, leading to its closure.