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Home/News Feed/Polymarket suffers $520K exploit on Polygon, but user funds remain safe

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Polymarket suffers $520K exploit on Polygon, but user funds remain safe

Market News

22 May 2026

Coindesk

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Neutral

Polymarket, a leading decentralized prediction market platform, experienced a security breach resulting in over $520,000 being drained from two smart contracts on the Polygon blockchain. The incident was caused by a private key compromise of an internal operations wallet linked to its rewards payout system. Polymarket's team confirmed that user funds and market operations are secure, emphasizing no broader smart contract or infrastructure breach occurred. Further updates are expected as the investigation continues.

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