Polymarket user on the hook for $90,000 due to phishing

• Polymarket user gets burned after following through with a phishing link
• The link was craftily embedded in Polymarket's comment section
• Pent-up demand for accessing the platform in the US has created opportuinties for scammers

Polymarket users are generally self-styled savants, oracles who peek into the future and can realistically predict the outcome of an event, whether this is the United States "not invading" Venezuela, or President Donald Trump winning his reelection bid.

However, scammers have been haunting the platform, with at least one user getting burned after they clicked on a phishing link leading to a bogus X social media-hosted page that was supposed to be "Polymarket News," as per a report by Pukerainbow, a popular netizen, and confirmed by the victim, OxyPredicts.

The user supposedly lost $90,000 after clicking on the phishing link to an X social media account that had completely copied the branding and visual style of the original.

The fake account was quickly flagged by users. The ruse was executed by exploiting pent-up demand for Polymarket accounts and the current registration list, which is based on invitations and long waitlists.

Polymarket’s approach has given scammers an idea of how to exploit people’s trepidations for a quick way in. Yet, the Fear of Missing Out has taken its first victim, with other users reportedly also falling for the ploy.

The scammers were incredibly crafty, responding to a comment in the Polymarket’s section by affirming that Polymarket had indeed launched its operations US-wide, and people could find more information at the specified URL, which was bogus.

The person who got burned out of $90,000 confirmed that they had contacted the FBI and the police, which is usually what law enforcement advises in the United States.

"I asked Polymarket if there was anything they could do while my accountwas being drained, and got only a short standard message back. Why didn't they auto-freeze my account when a new IP address started mass market selling and withdrawing all my money, though? Why didn't withdrawing tens of thousands of dollars away from Polymarket require another auth if I have 2FA on," the person continued online.

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