Polymarket Faces Phishing Scam Crisis Amid U.S. Market Re-entry Efforts
Polymarket, the prediction market platform, is grappling with a sophisticated phishing scheme targeting its users. A senior trader known as "25usdc" exposed the scam, which has already siphoned over $500,000 from victims. The attackers exploit Polymarket's comment section, luring users with promises of better odds on private markets before redirecting them to fake login pages mimicking the platform's interface.
The timing couldn't be worse for Polymarket as it prepares to re-enter the U.S. market and compete with rivals like Kalshi. The platform's reputation hangs in the balance as scammers continue to operate with impunity, using clever tactics to bypass security filters. This incident underscores the persistent security challenges facing decentralized platforms in the crypto space.
