Polymarket was targeted by a large-scale fraud operation earlier this year. Criminals attempted to move at least $10 million through its U.S. platform using thousands of stolen debit cards attached to accounts. Payment processor Checkout.com was rejecting more than 80% of the Polymarket deposits it handled due to their suspicious nature. Employees raised internal warnings, but CEO Shayne Coplan allegedly continued prioritizing growth over compliance concerns. The platform eventually tightened restrictions on debit cards. In June, hackers stole funds from some users following a third-party vendor compromise, and in July, a technical vulnerability affected nearly 500 users.
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