Trading halted on Polymarket following security breach that targeted user accounts

Trading halted on Polymarket following security breach that targeted user accounts

Trading operations came to a standstill on Thursday at the prediction markets platform following a security compromise affecting one of its external service providers.

The prediction markets platform Polymarket announced that its Predictions Trading API suffered a "major outage," which led to the company's decision to temporarily suspend all trading activities on the platform.

According to a Thursday posting on its status page, Polymarket indicated that the platform had been placed into "cancel-only" mode following the identification and resolution of a problem affecting its operational capabilities. By 7:05 pm UTC, the platform confirmed that all of its systems had returned to operational status.

"One of our third party providers was compromised, and we have referred this to relevant law enforcement. Anyone who has been impacted will be made whole."

Polymarket

The halt in trading operations occurred amid multiple reports from users on social media platforms alleging that their Polymarket accounts had been emptied of thousands of dollars following unauthorized sales of their positions.

This is a developing story and more information will be added as it becomes available