Polymarket team says user funds safe as exploit losses climb above $600K

A compromised internal wallet drained $700K from Polymarket. User funds stayed safe. Here’s what happened and how the team responded. A security incident hit Polymarket this week, shaking the prediction market platform briefly. An attacker gained access to an internal operations wallet used for rewards payouts.  The breach triggered repeated POL token transfers, firing every […] The post Polymarket Exploit: $700K in POL Stolen, Executives Say User Funds Safe appeared first on Live Bitcoin News.

User funds remain safe after the incident, the prediction market platform said, with contracts and core infrastructure unaffected.

The incident highlights the critical need for robust security measures in decentralized platforms to maintain user trust and financial integrity. The post Polymarket says user funds safe after admin wallet compromise triggers $700,000 theft appeared first on Crypto Briefing.

India's crackdown on prediction markets may prompt global regulatory shifts, impacting crypto platforms and international compliance strategies. The post India blocks Polymarket, prepares to target Kalshi next appeared first on Crypto Briefing.

Polymarket is reportedly seeking entry into Japan amid falling trading volumes and rising regulatory scrutiny, targeting approval by 2030.

The prediction market has reportedly appointed a representative in Japan as it aims to secure authorization to operate there by 2030.

Here's how much the attacker has siphon off the platform so far.

Polymarket’s UMA CTF Adapter on Polygon was reportedly exploited for over $520K, with stolen funds partly sent to ChangeNOW, analysts say.