Hackers Steal Funds From Polymarket Users As Platform Halts International Trading

UPDATE - follow-up to Some Polymarket user funds stolen by hackers, exchange referring matter to U.K. authorities: Unauthorized withdrawals hit accounts on Polymarket's international prediction market exchange on Thursday afternoon due to a security breach at an unnamed third-party provider.

Details

Traders first spotted the missing money and shared reports on social media. Polymarket stopped trading on the international platform right away to deal with the problem. The company confirmed it fixed the issue on its end, and trading started again at 3:00 p.m. ET.

Company Response

Polymarket has already contacted law enforcement and promised to pay back every trader who lost money. The exact number of people affected remains unknown. Officials noted that the company's U.S. platform was not affected by the hack. Meanwhile, DebugBear did not immediately reply when asked for a comment.

Context

Online prediction platforms and decentralized finance services face constant security threats from hackers targeting third-party vendors. This event comes shortly before a major surge in trading expected around upcoming major political elections.