Polymarket Vice President of DeFi Engineering (decentralized finance systems) Josh Stevens said the activity under review does not appear to be a smart contract (self-executing blockchain code) hack.
Polymarket is investigating transactions flagged as suspicious by blockchain investigator ZachXBT and others, according to Josh Stevens, Polymarket’s Vice President of DeFi Engineering (decentralized finance systems). Stevens said the incident does not appear to be a smart contract (self-executing blockchain code) exploit. Instead, he said it looks like a very old private key (secret wallet access credential) may have been compromised. The statement indicates the company is treating the issue as a potential key-security breach rather than a failure in onchain code.