User daN’SKi: Polymarket requires a signed agreement to refund funds
On October 30, X user daN'SKi (@TheNotoriousSKi) posted that the prediction market platform Polymarket requires users affected by its so-called security incident to disclose personal identification information and sign a legally binding contract before their funds will be returned. The post stated that this requirement contradicts the platform's previous claim that all affected users would receive full compensation and questioned its legality. The post included multiple screenshots of documents, with the text on the pages showing a sample settlement and release agreement.On October 29, Polymarket stated on X that a third-party service provider of its international platform Polymarket.com had been breached, the issue has been identified and resolved, and the incident has been referred to the relevant law enforcement agencies, with affected users set to receive full compensation. The platform had suspended trading but later announced that trading had fully resumed and stated that it would fully compensate all affected traders. According to CNBC, Polymarket informed users on Discord that funds with losses below $10,000 would be restored by October 30, while users with losses above that amount would need to sign a waiver agreement to receive compensation.CNBC cited data analysis from Betting Intelligence and Polysights, stating that on that day, one account withdrew at least $2.7 million from 710 wallets. Sources told CNBC that the issue stemmed from the website performance monitoring service DebugBear being breached, and Polymarket has referred the incident to UK law enforcement. The Polymarket US platform was not affected by this incident. In June of this year, Polymarket also stated that a third-party vendor had been breached and promised refunds to affected users.
