Polymarket just got hit with a $10M fraud attempt—attackers loaded up stolen debit cards, placed bets, then tried to cash out to clean accounts.
CEO Shayne Coplan allegedly told staff to "ship fast, pay fines later." Classic move-fast-break-things energy, but in prediction markets that's a recipe for disaster.
They even removed a withdrawal safeguard after internal warnings. Then in July, ~500 user accounts got exposed in a separate breach.
This is what happens when growth > security. $POLY holders should be asking hard questions about risk management and regulatory heat. If they're this loose with fraud controls, what else is slipping through?
CEO Shayne Coplan allegedly told staff to "ship fast, pay fines later." Classic move-fast-break-things energy, but in prediction markets that's a recipe for disaster.
They even removed a withdrawal safeguard after internal warnings. Then in July, ~500 user accounts got exposed in a separate breach.
This is what happens when growth > security. $POLY holders should be asking hard questions about risk management and regulatory heat. If they're this loose with fraud controls, what else is slipping through?
