Polymarket Hack Grows to $3.1 Million as Refunds Are Promised

A popular online betting site got hacked — and the damage was bigger than first thought.

Polymarket is a "prediction market" (a website where people bet money on whether real-world events, like elections or sports results, will happen). This week, hackers managed to steal millions from its users, and the total amount keeps growing.

What happened? According to AMLBot, a blockchain intelligence firm (a company that tracks digital money movements), hackers stole roughly $3.1 million from users. The stolen money was in PUSD — Polymarket's own digital token (a kind of digital cash) used for all betting on the platform.

Here are the key facts:

• $3.1 million stolen in total
• 11 user wallets (digital accounts that hold crypto) were targeted
• Funds were taken from the Polygon network and quickly moved ("bridged") to the Ethereum network — a common trick to hide the trail
• Security firm PeckShield said about 1,893 ETH worth of value was moved

How did the hackers get in? Polymarket said a third-party vendor (an outside company it works with) was compromised. The hackers slipped a malicious script (harmful hidden code) into Polymarket's website, which tricked some users. This is called a phishing attack — where criminals fool people into handing over access to their accounts.

What is Polymarket doing about it? The company says it has removed the harmful code and is refunding all affected users in full. That's good news for victims.

The bigger problem This isn't Polymarket's only headache. The platform is reportedly under federal investigation for allegedly using false or deceptive marketing on social media. This hack adds to a recent string of security troubles for the company.

Bottom line: While Polymarket has promised to make users whole, this incident is a reminder that even popular crypto platforms can be vulnerable — and that scams targeting everyday users remain a serious risk.

This is an AI-generated summary. Read the original article at: https://www.coindesk.com/markets/2026/06/27/polymarket-hack-updated-to-usd3-1-million-days-after-the-platform-promised-users-full-refunds