Polymarket Hack Climbs to $3.1M After Refund Pledge
A breach on prediction market platform Polymarket has grown to $3.1 million, days after the company promised full refunds to affected users.
Polymarket got hit harder than first reported. The prediction market platform's hack has been revised upward to $3.1 million — a number that landed just days after the company went on record promising full refunds to everyone who got burned. That's a bigger bill than most retail traders probably expected when the story first broke.
For anyone still using prediction markets, this is a gut-check moment. Polymarket built its reputation on being the go-to decentralized forecasting platform, especially during high-profile events like elections. A breach of this size raises real questions about the security infrastructure propping up real-money markets.
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The good news — if you can call it that — is the refund commitment. Polymarket said it would make affected users whole, which is a stronger response than you get from most crypto platforms when things go sideways. Whether that pledge holds up at the $3.1 million figure is the question every user should be asking right now.
This story is still developing. The revised loss figure suggests the initial damage assessment was incomplete, which means the final number could shift again. Keep your eyes on how quickly Polymarket actually executes those refunds — that execution will tell you everything about how seriously they're taking this.
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