Polymarket Platform Hit by Cyberattack: Hackers Steal User Funds

Polymarket, considered the world's largest prediction market, has officially confirmed that it was hit by a cyberattack resulting in the theft of user funds. Company representatives stated that a security vulnerability related to a third-party service provider allowed attackers to inject malicious scripts into the site's code. This was reported by Techcrunch.com news reports.

According to Polymarket, the incident did not affect all users, but only a specific segment. The company stated that the situation is now fully under control and affected customers are being contacted. Most importantly, the platform has committed to fully refunding all lost funds at its own expense.

Amount of Stolen Funds and Attack Method

In an interview with TechCrunch, Polymarket representative Connor Brandy confirmed the theft but declined to disclose specific details of the incident or the exact amount of funds misappropriated. However, PeckShield, a blockchain security firm, announced on its X social media page that approximately $3 million in cryptocurrency was stolen as a result of this attack.

Independent blockchain analysts have also confirmed this information, noting that at least 11 major investors suffered significant losses. A phishing campaign was used as the attack method, where malicious code forced users to confirm fake transactions. Consequently, digital assets from users' wallets were transferred to the hackers' addresses.

Another Blow to the Company's Reputation

This cyberattack comes during a difficult week for Polymarket. A few days ago, the company was embroiled in another controversy. Investigations revealed that the platform paid social media bloggers to promote videos showing fake winnings. These videos were created to deceive users and attract them to the platform, although such winnings did not actually exist.

Following these allegations, the company promised to conduct a full audit of its advertising content. The cyberattack has raised serious questions not only about the platform's marketing ethics but also its technical security. Experts currently advise users to check their wallet security and avoid confirming suspicious requests.

As platforms like Polymarket grow in popularity, especially ahead of political events and sporting competitions, such security issues can undermine user trust. Cryptocurrency enthusiasts in Uzbekistan are also advised to be cautious when using international platforms and to utilize two-factor authentication and cold wallets.