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Polymarket Exposed: Hack Involving $520k in Cryptocurrency! The Official Urgently Says: User Funds Are Safe
Polymarket platform reward distribution system was hacked due to private key leakage, resulting in losses of over $520k. The team emphasizes that the core contract is secure, and user assets have not been affected.
The world's largest decentralized prediction market platform, Polymarket, has experienced a security incident. Well-known on-chain detective ZachXBT stated that the platform's smart contracts on Polygon were suspected of being hacked, with over $520k in cryptocurrency stolen.
According to real-time on-chain data shared by ZachXBT, the compromised contract addresses are:
Currently, all stolen funds have been transferred to a specific hacker wallet, with the address "0x8F98075db5d6C620e8D420A8c516E2F2059d9B91".
Image source: ZachXBT
Development Team: Reward Distribution System "Private Key Leakage" Not a Smart Contract Vulnerability
In response, Polymarket's development team posted on social platform X, stating that they have noticed reports related to the "reward distribution system" anomaly.
The team emphasized that the incident was not caused by an intrusion into core infrastructure nor a smart contract vulnerability, but rather due to "internal operational wallet private key leakage." Polymarket's team is currently conducting a comprehensive investigation into the cause and will release more updates later.
Besides Polymarket's own team, Mudit Gupta, CTO of Polygon Labs, also promptly clarified, saying:
Polymarket's contracts are secure, and user funds are safe. It appears that the attack was purely on their "Market Initializer." This incident has not affected users or contracts in any way.
As of now, Polymarket's official main account has not issued a formal, complete statement. This incident once again highlights the long-term security challenges faced by DeFi platforms. Even if smart contracts are audited and no vulnerabilities are found, private key management, internal operational permissions, and hot wallet security can still be prime targets for hackers.