Polymarket Reports User Account Breaches Due to Third-Party Login Tool Vulnerability
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Security Vulnerability Disclosure: Polymarket confirmed on Discord that a vulnerability in a third-party authentication tool impacted a small number of user accounts, and while the issue has been resolved, reports of drained funds indicate a pressing need for enhanced platform security.
- Surge in User Reports: Numerous users took to social media to report that their accounts had been completely drained, with some noting suspicious login attempts prior to the theft, highlighting growing concerns over the platform's security measures.
- Potential Accountability: Some users suggested that the issue may stem from the integrated Magic Labs wallet service, which, if true, could negatively impact Polymarket's partnerships and user trust in the platform.
- Historical Security Issues: This incident is not isolated, as Polymarket users faced similar fund thefts in late 2024 after logging in via Google accounts, indicating ongoing challenges in the platform's security defenses.
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.
