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Crypto DeFi

Suspected Polymarket Attacker Swaps $2.65M for POL, Moves 28.64M Tokens

A wallet linked to the suspected Polymarket attacker (0x3F99…Ffc18) converted stolen USDC.e and USDC into POL, at one point holding about $2.65 million worth, then moved roughly 28.64 million POL in three transfers. Hudson Rock said the address was hardcoded as a backup payout address in a wallet-draining script hosted by DebugBear. Polymarket has said a third-party provider was breached and affected users will be fully reimbursed.

Original source

AI take

The suspected attacker's conversion of stolen stablecoins into POL and subsequent movement of tens of millions of tokens is a notable laundering pattern: swapping into a volatile asset and splitting transfers can obscure on-chain trails and complicate recovery. The hardcoded backup address in a third-party wallet-draining script points to supply-chain exposure rather than a direct Polymarket breach, which matters for how other platforms assess vendor risk. Polymarket's reimbursement pledge addresses user losses, but whether the moved POL is traced or frozen remains the open question.

Generated by AI for reference only.

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