Sources: Polymarket CEO Shayne Coplan dismissed concerns after fraudsters tried to launder $10M+ from stolen cards to clean accounts via its wagers in February (Wall Street Journal)

Polymarket CEO Shayne Coplan dismissed concerns after fraudsters attempted to launder more than $10 million from stolen card data into clean accounts through the platform’s wagering system in February. The company reported that the fraudsters used stolen card information to place bets, but no funds were moved from legitimate user accounts. Coplan stated the incident did not indicate a systemic vulnerability in Polymarket’s security or payment processing.