Polymarket security system breached: over $600,000 stolen
The prediction platform Polymarket has confirmed a security issue within a part of its infrastructure. According to preliminary data, over 600,000 USD was stolen as a result of a hacking attack. Company representatives emphasize that users' primary funds and market results remain secure. This was reported by Cointelegraph.com .
Security expert ZachXBT was the first to identify suspicious transactions in the UMA Conditional Tokens Framework (CTF) Adapter contract associated with Polymarket on the Polygon network. According to Josh Stevens, VP of Engineering at Polymarket, the issue stems from the compromise of a six-year-old private key used for internal operations.
Currently, all permissions associated with this key have been revoked. According to DefiLlama, Polymarket is the world's second-largest prediction market with a monthly trading volume of 3.7 billion USD. Nevertheless, the platform's developers state that the core smart contracts and infrastructure remain unaffected.
Blockchain analytics platform Bubblemaps reported that the attacker was withdrawing approximately 5,000 POL tokens every 30 seconds. Analysts at Lookonchain estimate the total loss at around 660,000 USD. Polymarket has been using the UMA solution for decentralized market resolution since 2022.
