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Polymarket Addresses Third-Party Provider Flaw After User Account Breach

Polymarket Addresses Third-Party Provider Flaw After User Account Breach

Author:

Global Cryptocurrency

Published:

2025-12-24 09:01:02

19

3

BTCCSquare news:

Polymarket, a decentralized prediction market platform, confirmed a security breach tied to a vulnerability in third-party authentication provider Magic Labs. The incident affected a small subset of users, with some reporting drained balances after unauthorized logins. One Reddit user documented their account being reduced to $0.01 overnight despite no apparent device compromise.

The platform has since resolved the issue and plans to contact impacted users. Social media reports initially surfaced the breach, highlighting risks in dependency on external authentication services—a recurring pain point in decentralized finance.

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