PANews|Sep 20, 2026 02:55
[Polymarket's U.S. Platform Hit by Debit Card Fraud, Involving Over $10 Million]
According to The Wall Street Journal, the prediction market platform Polymarket mishandled issues related to debit card fraud during the rapid expansion of its U.S. operations. In February of this year, the company responsible for processing debit card transactions for Polymarket's U.S. platform discovered that a large number of fraudsters were linking stolen debit cards to accounts, attempting to place bets and withdraw funds to controlled accounts. The amount involved was at least $10 million. At its peak, over 80% of deposits were deemed fraudulent, far exceeding the industry standard of approximately 1%.
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