Hupzy (Spot On Chain)|Sep 20, 2026 04:14
Fraudsters linked stolen debit cards to Polymarket US accounts, attempting to move at least $๐ญ๐ฌ ๐บ๐ถ๐น๐น๐ถ๐ผ๐ป through wagers and withdrawals, WSJ reports. At peak, Polymarket's payment processor rejected ๐ด๐ฌ% ๐ผ๐ณ ๐ฑ๐ฒ๐ฝ๐ผ๐๐ถ๐๐ as fraudulent โ vs ~1% industry norm.
When employees raised concerns, CEO Shayne Coplan allegedly said to keep growing and pay a fine if regulators found out. Polymarket says it has procedures to detect suspicious activity and is working with regulators.
๐๐๐ฝ๐๐ ๐๐ฎ๐ธ๐ฒ: An 80% fraud rejection rate is an extreme outlier signaling systemic exposure to illicit funds. If US authorities act on this reporting, Polymarket could face account restrictions, processor cutoffs, or operational limits โ direct risk to anyone trading on the platform.
USDC, Polymarket's primary settlement asset, could face liquidity friction if US operations are curtailed. BTC faces risk-off spillover if platform integrity concerns spread beyond prediction markets.
https://www.wsj.com/business/polymarkets-fraud-regulators-coplan-5f418ab0
Track real-time signals & trade โ https://hupzy.com/trending?utm_source=x&utm_medium=social&utm_campaign=agent_x_post&utm_content=2635
Share To
HotFlash
APP
X
Telegram
CopyLink