Polymarket Freezes $164K After Internal Wallet Incident

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 5 hours ago

DEFI-2.57%

BTC-1.409%

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Funds Frozen: Polymarket has frozen $164,000 due to an internal wallet incident, representing 28.6% of the $573,200 transferred, effectively reducing the liquid damage and showcasing the effectiveness of a rapid response.
Rapid Response Team: Polymarket's VP of Engineering, Josh Stevens, confirmed that the swift actions of ZachXBT, Bitcoin Vietnam, and ChangeNOW helped freeze part of the funds, preventing larger losses and enhancing the credibility of the incident management.
User Funds Safety: Despite the private key compromise, Polymarket has assured that user funds, active markets, and market settlements are safe, indicating that the incident did not pose a direct risk to users.
Recovery Plan Ahead: The current recovery efforts focus on the frozen $164,000 and the remaining $409,200, with ongoing monitoring of attacker wallet movements and potential further holds by service providers.

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Technical Analysis for DEFI

Technical Sentiment Analysis for DeFi (DEFI). As of , DeFi (DEFI) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 2 indicators are flashing buy, while 5 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DEFI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, DEFI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

DeFi (DEFI) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.000216	0.000222	0.000227	0.000234	0.000239	0.000245	0.000251
Fibonacci	0.000222	0.000226	0.000229	0.000234	0.000238	0.000241	0.000245

About DEFI

De.Fi is Web3 Antivirus & SocialFi SuperAppSince launching in July 2020 the platform has grown to over 5 million users in 2023 and $25 billion in user funds tracked.De.Fi has been protecting users from bad-actors in web3 & preventing scams from happening for over 4 years, as well as shipping leading portfolio-tracking & security solutions; De.Fi Antivirus has already protected over $1.2B in users funds from being lost to web3 scams.De.Fi is the inventor behind numerous superior web3 tools, among them:Crypto's First Antivirus - de.fi/scannerCrypto's Most Advanced Revoking Tool - de.fi/shieldCrypto's Largest SocialFi - de.fi/claimCrypto's First Security Market Page - de.fi/market/securityCrypto's First Audit Database - de.fi/audit-databaseCrypto's First REKT Database - de.fi/rekt-databaseHere's an article about De.Fi by Coinmarketcap - https://coinmarketcap.com/academy/article/what-is-dedotfi

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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