Polymarket Blames Third-Party for Security Breach Affecting Users

Polymarket Security Breach

Polymarket reported a security breach affecting some users, attributed to a third-party authentication provider.
Users on platforms like X and Reddit reported unauthorized login attempts and loss of assets.
Affected users had signed up via Magic Eden, managing accounts with email-based non-custodial Ethereum wallets.
Despite two-factor authentication on their emails, users still experienced account breaches.

Polymarket's Growth Amid Challenges

In October, Polymarket hit $3 billion in trading volume with 338,000 unique traders.
The platform is noted for high trading activity and a large user base.
The US CFTC issued an Amended Order allowing Polymarket to operate under federal regulations as an intermediated exchange.