Phishing Link in Polymarket Comment Section Ends up Losing User $90,000

A fake Polymarket link misled a user who ended up losing $90,000. Clicking the link led to an X account that pretended to be the real Polymarket. The link had been placed in a Polymarket comment section; it had been one of many plastered across several places. It was presented as a way for the international users of the prediction market to access the US version.

In addition, the fake links were followed by a description claiming it as a place that offers “more complex and meme-based betting events”.

Those lured into the impostor site would then attempt to log in and have their credentials stolen. On X, several accounts have begun giving warnings to people and informing them of the possible dangers of misleading links.

After the incident, the account on X impersonating the prediction market received the “parody” mark.

The Victim Seeks Justice

After falling victim to the phishing scam, the victim stated that both the police and the FBI would be receiving a statement on the situation as a whole.

The person described in another post how they had worked their way up from $15,000 to a balance of $150,000.

The victim questions why, after seeing a new IP address attempt to withdraw large sums of money, Polymarket did not freeze the account.

They shared their thoughts in regard to how not clearly thinking and clicking one too many times led to them losing the money.

Vulnerability in the System Ends up Costing People

Many more have become victims of the same phishing scam. Users have collectively lost over $500,000 to these fake comment section links.

Polymarket has been facing this continuous problem as it has been going on for a few months now.  The biggest number of people affected by this problem are users with Ethereum wallets. This has brought attention to holes in the security of Polymarket’s and other prediction markets.

Many frustrated and anxious users have been sharing their viewpoint on this issue. A need for proactive security measures, such as smart filters, has become imperative.