Citing TechFlow, on December 24, 2025, crypto prediction market platform Polymarket confirmed that multiple user accounts were hacked due to a security vulnerability in a third-party authentication provider. Affected users reported on social media that their funds were drained even with two-factor authentication enabled. The issue appears to be linked to Magic Labs' email login service, a common registration method for first-time crypto users. Polymarket stated the security issue has been resolved, with no ongoing risk, but did not disclose the number of affected users or the amount of losses.
Polymarket Confirms User Accounts Hacked via Third-Party Authentication Vulnerability
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Summary
Polymarket confirmed user accounts were hacked via a third-party authentication flaw, with on-chain data showing unauthorized fund movements. The breach, linked to Magic Labs' email login, affected users even with two-factor authentication enabled. Altcoins to watch may see volatility as traders react to the incident. Polymarket says the issue is fixed, but did not reveal the number of impacted accounts or total losses.
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