Polymarket halts trading in cancel-only mode after suspected wallet drain; attacker holds approximately $2.65M in POL tokens.
Security & Exploits ·
Polymarket has suspended trading and entered cancel-only mode while investigating a security incident affecting user accounts. The exchange paused relayer actions as of 18:05 UTC, with multiple users reporting unauthorized account drains. One reported instance involved losses totaling $800,000 and $600,000 across affected parties, though these figures remain unconfirmed.
A wallet believed connected to the incident currently holds approximately $2.65 million in POL tokens, according to blockchain analysis. The cancel-only mode allows existing positions to be closed but prevents new trades, a standard precaution during active investigation of exchange compromises or exploits. The platform's official status page confirmed the major outage designation.
The nature and scope of the attack remain under investigation. It is not yet clear whether the compromise was network-wide, affected specific user types or integrations, or stemmed from a smart contract vulnerability. Users have been advised to disconnect their addresses as a precautionary measure pending further details from Polymarket.