The prediction markets platform is facing scrutiny for potentially misleading marketing practices, as reported by various news outlets.
By Olivier Acuna|Edited by Shaurya Malwa Jun 27, 2026, 2:13 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- Approximately $3.1 million in the PUSD token was taken from 11 user wallets during the hack, with funds transferred from Polygon to Ethereum, as reported by blockchain analytics firm AMLBot.
- Polymarket attributed the breach to a compromised third-party vendor that inserted a malicious script into its frontend, assuring full refunds to those affected.
- This phishing attack follows a series of security issues at Polymarket and coincides with reports of a federal investigation regarding alleged deceptive marketing on social media.
According to blockchain analytics company AMLBot, the total amount stolen from Polymarket's user wallets has been revised to around $3.1 million in the PUSD prediction token.
The stolen assets were initially taken from Polygon before being transferred to Ethereum, with AMLBot continuing to monitor Polymarket accounts.
As of Saturday morning in the U.S., Polymarket had not provided a comment in response to a request from CoinDesk.
Following the revelation of the hack, Polymarket announced its commitment to fully refund those holding PUSD, the platform's native collateral and settlement token.
Polymarket stated on X, "This morning we discovered a third-party vendor had been compromised, injecting a malicious script into our frontend for some users. We've contained it and removed the affected dependency. We're contacting impacted users and refunding them in full."
On Thursday, blockchain security firm PeckShield reported via X that a phishing campaign was targeting Polymarket users, with the hackers bridging the stolen funds, initially estimated at around 1,893 ETH.
Specter Analyst, another blockchain intelligence service, also reported losses of approximately $2.94 million due to the phishing attack.
One victim identified as Ash shared on X that his wallet had been hacked, expressing confusion about the situation and providing both his and the attacker's wallet addresses.
Polymarket has faced multiple security breaches in the past. In March, blockchain investigator ZachXBT pointed out a suspected breach during which over $520,000 was reportedly drained from two smart contracts on the Polygon network, although Polymarket claimed the funds were secure.
In December, the platform confirmed another security incident on its Discord channel after users reported missing funds and suspicious login attempts, attributing these issues to an unidentified third-party login provider.
This phishing attack news comes in the wake of reports suggesting that Polymarket is under federal scrutiny for allegedly misleading advertising practices related to social media promotion of user winnings, as highlighted in a Wall Street Journal article.
PolymarketHackLatest Crypto News- 1Coinbase and OKX attempt to attract Binance’s EU users after it failed to obtain a MiCA license48 minutes ago
- 2Binance founder CZ attributes crypto's downturn in 2026 to a combination of AI, global tensions, and a four-year cycle2 hours ago
- 3Strategy's valuation has dropped below its bitcoin holdings' value2 hours ago
- 4Ripple CEO remains optimistic about bitcoin but critiques Saylor's strategy for its negative impact on crypto7 hours ago
- 5Dogecoin and Hyperliquid's HYPE contributed to weekly crypto losses as AI stocks attract buyers7 hours ago
- 6Aave and Solana ecosystem tokens spearhead crypto recovery as bitcoin stabilizes near $60,00018 hours ago
- 7U.S. House Democrat, likely to lead a key committee, criticizes crypto in 401(k) plans19 hours ago
- 8Former Ethereum Foundation leader cautions about funding shortages as governance evolves20 hours ago
- 9Anti-trafficking organization warns that Section 604 of the Clarity Act might undermine accountability20 hours ago
- 10Virtuals' Jansen Teng remarks that AI agents are transitioning into autonomous economic entities20 hours ago
Equities on Crypto Rails: A Platform Comparison
Equities on Crypto Rails: A Platform Comparison
US equities on crypto rails: access is easy, on-chain composability is the real test. Only Binance and Backpack deliver both - and only Binance at scale.
By CoinDesk ResearchJun 26, 2026US equities on crypto rails: access is easy, on-chain composability is the real test. Only Binance and Backpack deliver both - and only Binance at scale.
Why it matters:
US equities on crypto rails: access is easy, on-chain composability is the real test. Only Binance and Backpack deliver both - and only Binance at scale.
View Full ReportMore From Markets