PeckShield security researchers have identified an active phishing campaign targeting Polymarket users that has resulted in the theft of approximately $3 million in PUSD stablecoins, according to alerts from the blockchain security firm.
The attack exploits user credentials to gain unauthorized access to Polymarket accounts, enabling threat actors to drain funds held on the prediction market platform. Specter, which detected the campaign, has documented the fraudulent activity as it unfolds across affected user wallets.
The incident underscores ongoing security vulnerabilities in decentralized finance platforms despite growing user adoption. Polymarket users are advised to enable additional security measures and verify the authenticity of any communications requesting account access or credential confirmation.