An anonymous reader quotes a report from Wired: Trading has resumed on Polymarket's flagship international platform after a hack that drained money from the wallets of some traders. A third-party vendor based in the United Kingdom was breached, not the prediction market's website itself. Law enforcement in the UK have been notified of the incident, the company said. Trading was initially paused while the company investigated for several hours.
On X, prominent traders complained that they had lost money; Blockchain analytics firm Bubblemaps reported that around 700 users appear affected, with approximately $2.7 million stolen. Polymarket declined to comment when WIRED asked how many traders were impacted by the breach and how much money was lost, but said it will refund impacted traders.
The hack did not impact users on Polymarket US, the company's newer platform for people within the United States. Polymarket runs two separate prediction markets; Polymarket US operates as a federally regulated financial exchange within the country, while the flagship Polymarket is a cryptocurrency-based platform that is banned in the United States and a number of other countries. This is not the first time that Polymarket traders have experienced losses like this. "A nearly identical vendor-compromise attack hit the platform in June, draining close to $3 million from at least 11 user wallets through the same kind of injected frontend script," reports StartupFortune.
Hours before Polymarket halted trading, more than $2 billion in cryptocurrency was drained from Binance wallets in just 40 minutes.
On X, prominent traders complained that they had lost money; Blockchain analytics firm Bubblemaps reported that around 700 users appear affected, with approximately $2.7 million stolen. Polymarket declined to comment when WIRED asked how many traders were impacted by the breach and how much money was lost, but said it will refund impacted traders.
The hack did not impact users on Polymarket US, the company's newer platform for people within the United States. Polymarket runs two separate prediction markets; Polymarket US operates as a federally regulated financial exchange within the country, while the flagship Polymarket is a cryptocurrency-based platform that is banned in the United States and a number of other countries. This is not the first time that Polymarket traders have experienced losses like this. "A nearly identical vendor-compromise attack hit the platform in June, draining close to $3 million from at least 11 user wallets through the same kind of injected frontend script," reports StartupFortune.
Hours before Polymarket halted trading, more than $2 billion in cryptocurrency was drained from Binance wallets in just 40 minutes.
Read more of this story at Slashdot.
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