The U.S. platform Polymarket suffered a multi-million-dollar card fraud incident, with the CEO accused of saying, “Keep growing; we’ll pay the fine when we get caught.” In February this year, Polymarket’s U.S. platform experienced widespread fraudulent debit card charges, in which scammers used stolen cards to deposit funds into thousands of accounts and then attempted to withdraw and launder the money—amounting to at least $10 million. The payment processor Checkout found that, at peak times, over 80% of deposits were flagged as fraudulent—far exceeding the industry’s normal rate of around 1%. Most of the attacks originated from approximately seven accounts, with one account attempting nearly 4,000 deposits. After internal compliance staff raised concerns about the risk, according to insiders, CEO Shayne Coplan responded with, “Keep growing; we’ll pay the fine when regulators catch us.” Fraud rates remained elevated for months afterward and were only brought back to normal levels in May by imposing limits on the number of linked cards. Following the incident, several compliance executives departed, and the company launched an internal investigation.