Prediction market platform Polymarket temporarily halted trading after more than $2.6 million was drained within minutes, The Block reported on Oct. 29.
Polymarket switched its exchange to a cancel-only mode, the report said. Users can cancel existing orders, but new orders and trades are not processed. Polymarket also suspended its relayer function, which processes trades on its behalf, while it investigates the incident.
A suspected attacker wallet address holds about $2.65 million worth of POL, according to data from blockchain analytics firm Arkham.
The wallet recently swapped USDC.e for POL multiple times through a relay and then moved funds to other addresses.
Polymarket later said it had found the cause and fixed the problem. It said one external partner had been compromised and that it had handed the case to relevant investigative authorities.
Chi-gyu Hwang
delight@d-today.co.kr