There have been reports of Polymarket users who logged in via Google being hacked. The attacker used the "proxy" function to steal USDC. While the number of users affected is small, it is a worrying sign.
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What does this mean for us?
Risk for Polymarket users: If you use Polymarket and sign in via Google, change your password immediately and enable two-factor authentication. Consider using a hardware wallet or browser extension like MetaMask or TrustWallet for added security. It is best to temporarily refrain from using Polymarket until the project team makes an official statement.
Potential Market Impact: This incident may negatively impact Polymarket's reputation and undermine user confidence in the platform. This may result in a decrease in trading activity and, as a result, market volatility.
Security Lessons: This case is a reminder of the importance of basic security measures. Never use the same password across platforms. Enable two-factor authentication wherever possible. Be wary of phishing links and suspicious messages.
