Polymarket team says user funds safe as exploit losses climb above $600K
Polymarket said user funds and market resolution were safe after a suspected private key compromise tied to top-up operations....
Key takeaways
- 1Polymarket exploit losses exceeded $600,000 from compromised private key used for top-up operations on Polygon.
- 2Polymarket confirmed user funds and market resolution safe; core contracts and infrastructure unaffected by breach.
- 3Attacker drains approximately 5,000 POL tokens every 30 seconds from UMA Conditional Tokens Framework adapter contract.
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Why it matters
DeFi security breaches threaten user confidence in prediction markets and decentralized platforms used by retail traders. Indian investors relying on prediction markets need assurance that platform vulnerabilities won't compromise their deposited funds or market integrity.
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