Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
Polymarket was exposed to at least $10 million in attempted fraudulent payments using stolen debit cards on its U.S. platform, The Block reported. The attackers funded bets with stolen debit cards and then tried to withdraw any winnings to clean accounts or cards under their control.
Seven users led the scheme, according to the report, and one user attempted more than 4,000 deposits. The fraud rate for Polymarket deposits processed by payment provider Checkout.com at one point exceeded 80%, and Checkout.com demanded tougher controls after receiving a warning from Visa.
After receiving an internal report, CEO Shayne Coplan allegedly told employees to focus on growth for now and worry about fines later, according to The Block. The incident led to the resignation of Chief Compliance Officer Andrew Clifford and the replacement or dismissal of a number of senior executives, including the CEO of the U.S. entity.