Polymarket Freezes $164,000 Linked to Private-Key Breach

Polymarket has frozen $164,000 tied to a private-key compromise, according to a May 22 update from Josh Stevens, the company's VP of Engineering. The recovery effort was carried out with help from 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. User funds remain safe and the platform continues to operate normally. The investigation found the breach was linked to an internal deposit-configuration private key that had been in existence for roughly six years. As a result, funds were repeatedly routed to the compromised address. Teams involved in the response are continuing to trace the remaining stolen funds.