Polymarket says hackers stole users’ funds

Polymarket, a leading player in the prediction market space, has reported a security breach resulting in the theft of user funds due to a vulnerability at a third-party vendor. In a recent update shared on social media, the company disclosed that hackers managed to introduce malicious code to its website, impacting a number of users. The firm stated that it has successfully contained the breach and is actively reaching out to affected users to ensure they receive full refunds. However, details surrounding the incident remain murky, with Polymarket spokesperson Connor Brandi confirming the theft but withholding further specifics upon inquiry. Coinciding with Polymarket's announcement, blockchain security firm PeckShield highlighted a phishing scheme targeting its users, estimating that around $3 million in cryptocurrency had been compromised. Reports indicate that more than 11 individuals fell victim to this attack, with blockchain analysts corroborating the significant losses. The recent security incident adds to Polymarket's troubles, as it has recently faced scrutiny for allegedly compensating online creators to promote misleading videos that falsely showcased winning bets. In light of these controversies, the company has committed to auditing its promotional practices to restore trust among its user base.