Back
New wallet coldsway loses more than $3.97 million on World Cup prediction bets

New wallet coldsway loses more than $3.97 million on World Cup prediction bets

The wallet placed wagers on three matches in two days, with its biggest hit coming from South Africa vs. Canada and its only profit from Croatia vs. Ghana.

Fact Check
The original OnchainLens X post confirms every element of the claim verbatim: a 2-day-old wallet named coldsway lost over $3.97M across three FIFA World Cup predictions, with the biggest loss from South Africa vs. Canada (-$3.14M) and the only profit from Croatia vs. Ghana (+$1.06M). Both caller-supplied news sources (BlockBeats, PANews) independently report the same figures and attribute them to Onchain Lens, and multiple other X accounts reposted identical data. The OnchainLens post links to the coldsway Polymarket activity page, providing on-chain provenance (account joined Jun 2026, 3 predictions, biggest win ~$1.1M). The Polymarket net P/L (-$3.1M) is consistent once one accounts for the offsetting winning bet, supporting that $3.97M represents gross losses on losing positions.
    Reference: 123
Summary

A newly created wallet identified as "coldsway" lost more than $3.97 million after placing prediction market bets on three World Cup matches over two days, Onchain Lens said on June 29. The largest single loss was about $3.14 million on South Africa vs. Canada after Canada won, followed by another roughly $1.97 million loss on Colombia vs. Portugal. The wallet’s only winning position generated about $1.06 million on Croatia vs. Ghana. The activity highlights how prediction markets can produce outsized gains or losses over a short period when large wagers are concentrated on a small number of outcomes.

Terms & Concepts
  • prediction market: Platform for betting on outcomes
  • wallet: Blockchain address holding digital assets