Prediction market giant Polymarket has admitted that hackers stole funds from an unspecified number of users following a third-party breach.
Polymarket said in an X post on Thursday that a breach of a third-party vendor allowed hackers to inject malicious code into the company's website “for some users.” The company said it has “contained” the incident and is now contacting the victims and issuing “full refunds.”
As of Thursday afternoon, it was unclear exactly what happened.
Speaking to TechCrunch, Polymarket spokesperson Connor Brandi confirmed that the breach led to the theft of users' funds, but declined to provide further information or answer specific questions about the incident.
Around the same time as Polymarket's post, blockchain monitoring firm PeckShield reported on X that a phishing campaign was targeting Polymarket users. According to PecShield, the hackers stole approximately $3 million worth of cryptocurrencies.
Blockchain analysts also reported similar losses, claiming that funds were stolen from more than 11 victims.
Polymarket offers users the possibility of payment in cryptocurrencies.
In the past few days, two people have claimed on social media that their Polymarket funds have been stolen.
The hack is the latest blow to a company that made headlines this week for all the wrong reasons. Sunday's investigation revealed that Polymarket paid online creators to post deceptive videos showing them winning lucrative bets that were actually fake. In response, the company announced that it would audit the advertising content.