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PMX Polycule Trading Bot Hack Leads to $230,000 Loss

PMX’s Polycule trading bot hack impacted $230,000 in user funds, prompting urgent fixes and a security audit expected to finish by the weekend.

Summary

On January 8, 2025, Polycule, a Polymarket-based trading bot project from PMX Trade, was hacked, resulting in $230,000 in user losses. The bot has been taken offline, with patch updates and a security audit scheduled for completion by the weekend. PMX Trade, backed by AllianceDAO, plans to fully compensate affected users once recovery measures are complete.

Terms & Concepts
  • Trading bot: Automated software that executes trades based on predefined algorithms without manual intervention.
  • Audit: A systematic review of code and systems to identify vulnerabilities and ensure security compliance.