Some Polymarket users reported that their accounts were hacked and emptied, which the prediction market blamed on a third-party provider.
Prediction market platform Polymarket has pinned quite a few reported user account breaches to a third-party login tool.
In a post on the corporate's Discord on Tuesday, Polymarket said it had reported and stuck a security issue affecting “a small variety of users” after some reported suspicious activity on their accounts.
“The issue was brought on by a security flaw introduced by a third-party authentication provider,” Polymarket said. “Polymarket takes security very seriously and the problem has been resolved.”
It added that there was no ongoing risk and that affected users can be contacted.
Source: Discord
Polymarket's confirmation got here following a flurry of user reports on social media platforms Reddit and
Some users reported seeing three login attempts from attackers before their funds were finally used up.
“Today I woke up and saw three attempts to log in to Polymarket. My device is just not compromised, Google didn't find anything suspicious, all other services are high quality.” said one Reddit user. “So I went to Polymarket and located that every one my trades were complete and the balance was $0.01.”
Other users have claimed that the safety issue may come from Magic Labs, a well-liked wallet service integrated with Polymarket.
“My Polymarket wallet was also emptied yesterday,” one X user noted. “Wallet was [Magic Labs] created. I never signed up for emailing from them, so I never received any phishing links.”
This is just not the primary time that users of the most important prediction market have faced security issues, as some Polymarket users will lose their data in late 2024 after logging into the platform using their Google accounts.
