AI Image
Polymarket pauses trading amid reports of users’ wallets drained
NBC News • • business
Key Points:
- Polymarket halted trading on its international platform for nearly an hour due to a security breach involving compromised third-party software from DebugBear, a web analytics tool.
- Reports indicate some users' wallets were drained of approximately $2.65 million in cryptocurrencies, though Polymarket has not confirmed the exact losses but pledged to fully reimburse affected traders.
- The breach appears to have originated from the United Kingdom, and Polymarket has referred the incident to British law enforcement while its U.S.-based platform remained unaffected.
- Polymarket, valued at $21 billion and processing about $200 million in daily trading, faces ongoing regulatory scrutiny and investigations into suspicious betting activity related to recent elections.
- The attack highlights the growing risk of third-party vendor compromises in the crypto and prediction market sectors, marking a significant security incident for Polymarket.
