While bets soar across online prediction markets, some Polymarket users may have seen their wallets thin — not because of losing predictions, but because hackers weaseled their way into their accounts.
The prediction market platform announced the breach on Thursday (June 25) via X, explaining that attackers had gained access to an undisclosed number of user accounts after compromising a third-party vendor. Hackers injected malicious script into Polymarket's frontend, which was spotted and contained by the platform, but not before the hackers siphoned funds from affected users.
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The platform said it will notify users and fully refund any lost money, but has not yet shared any more details on the incident.
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The attack may have been part of a large scale phishing attempt aimed at cryptocurrency wallets, reported TechCrunch, after blockchain monitoring firm PeckShield spotted $3 million in cryptocurrency leaving Polymarket accounts and transferring to Ethereum.
Polymarket only just announced it reached more than $1 billion in annualized revenue, as trading reaches all time highs during the 2026 FIFA World Cup.
But the Donald Trump Jr.-backed platform has also been mired in controversy, including a recent Wall Street Journal report that found Polymarket had paid influencers to post misleading advertisements that were then boosted by an "army" of social media accounts.