Polymarket Had to Pause Trading After Hackers Stole $2.7M from the Platform
Polymarket was just hit by hackers, who are said to have siphoned roughly $2.7 million from hundreds of accounts on the platform. Polymarket had to temporarily cancel trading due to the attack, although it has since resumed operation. Experts Say Hackers Stole Millions Reports say that Polymarket w…
Polymarket was just hit by hackers, who are said to have siphoned roughly $2.7 million from hundreds of accounts on the platform. Polymarket had to temporarily cancel trading due to the attack, although it has since resumed operation. Experts Say Hackers Stole Millions Reports say that Polymarket was hacked on October 29 when a third-party software compromised the platform, affecting hundreds of users. The hack targeted the Polymarket.com crypto-based exchange instead of the company’s US-facing platform. As it turned out, hackers had tampered with the website’s JavaScript code, affecting how traders interacted with the site, without them even realizing it. The attack is also said to have involved DebugBear, a third-party performance monitor. According to reports, modified script hosted on DebugBear allowed the hackers to exploit existing logged-in sessions. The hackers were thus able to tap into customers’ wallets, either selling or transferring assets to attacker-controlled wallets. This exploit means that users could lose money without clicking a phishing link or having their passwords leaked. Polymarket Did Not Confirm the Extent of the Damages Various blockchain firms followed the situation, trying to determine the extent of the damages. According to blockchain analytics firm Bubblemaps, the attack affected 700 users on Polymarket’s international platform. Blockchain firm Bitquery, on the other hand, places the number of affected users at 737 and the stolen sum at $2.73 million. Cybersecurity firm BleepingComputer, on the other hand, traced transactions of roughly $2.57 million in Polygon’s proprietary POL cryptocurrency from a suspected attacker’s wallet. As of the time of this writing, Polymarket has not confirmed how many customers have been affected or how much has been stolen. However, the company acknowledged the attack and promised to provide reimbursement to affected players. The company had to cancel its operations for an hour and later referred the incident to UK law enforcement. DebugBear also acknowledged the incident. The company asked clients using its Real User Monitoring to remove the software’s embedded code from their websites to avoid further incidents. Michigan Ordered Polymarket to Exit the State In other Polymarket news, the company just lost its battle against regulators in Michigan, as the Michigan Gaming Control Board announced that it has ordered the platform to leave the market by November 25, 2026. This is a significant achievement for the MGCB and one of the latest developments in the battle between state regulators and the prediction markets sector.