Polymarket freezes $164,000 after private key leak

Polymarket engineering VP Josh Stevens said $164,000 has been frozen in connection with a private key compromise, with support from on-chain investigator ZachXBT as well as BitcoinVN and ChangeNOW. The frozen amount represents about 28.6% of the $573,200 that was transferred. Stevens said the incident did not impact Polymarket or UMA smart contracts, adding that user funds remain safe and the platform is operating normally. An initial review found the breach stemmed from a private key created roughly six years ago that was used for internal deposit configuration, leading to ongoing transfers to compromised addresses. Teams involved in the response continue to trace the remaining stolen funds.