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Polymarket was forced to temporarily restrict trading on Thursday after a security incident reportedly drained millions of dollars from user accounts.<\/p>\n
The platform subsequently said it had identified and fixed the problem, which originated from a compromised external service rather than its core infrastructure.<\/p>\n
The first signs of potential trouble emerged hours ago when multiple users reported unauthorized activity on their Polymarket accounts.<\/p>\n
As the situation developed, the company put its international exchange into cancel-only mode, meaning users could remove existing orders but couldn’t submit new ones or execute new trades. The team also paused Relayer activity while it investigated.<\/p>\n
Blockchain data tracked by Arkham showed<\/a> a wallet believed to be linked to the attacker holding approximately $2.65 million worth of POL, following a series of USDC.e-to-POL swaps conducted through Relay. On-chain investigators confirmed that the amount is around that level, with some putting<\/a> it at $2.7 million.<\/p>\n One affected trader claimed on X to have lost around $800,000, while another report suggested hundreds of transactions may have contributed to the total amount drained. Those individual figures were initially based on user and on-chain reports rather than Polymarket’s own accounting.<\/p>\n Polymarket said one of its external providers had been compromised and that the matter had been referred to law enforcement. It also pledged to fully reimburse affected traders and announced<\/a> that the team had successfully identified the vulnerability and fixed it.<\/p>\n The post Polymarket Trading Disrupted After Users Report $2.6M in Losses<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n
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