Polymarket got hit again. May 22nd, someone drained around $660K in USDC and POL through their UMA CTF Adapter on Polygon. ZachXBT caught it first. The guy was pulling 5,000 POL every 30 seconds lol.
Polymarket said "no contracts were exploited, all user funds are safe." Turns out it was a compromised private key from their rewards payout system. So not a smart contract bug, just someone got the keys. I mean that's still not great?
What gets me is this is like their third incident in 6mons. And every single time the answer is "core protocol is fine." The core protocol is fine, everything around it keeps getting popped though. POL dumped on the news too, funding rate on bydfi flipped negative pretty fast.
Oh and the audit they did back in 2021? Didn't even cover the part that got exploited. So...how many "isolated incidents" before it's a pattern?
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