Two popular financial platforms came under attack Thursday within hours of each other. The cryptocurrency platform Binance and prediction market platform Polymarket both suffered huge losses totaling billions of dollars, and it was all stolen directly from users’ accounts.
Both platforms are juggernauts in their categories. Binance is by far the biggest cryptocurrency exchange on the planet, boasting 335 million users, which makes it a prime target for hackers. Meanwhile, Polymarket is the leading prediction market, edging out Kalshi for global dominance.
Binance revealed that it set aside $6.34 billion to recuperate the losses suffered by its users.
Binance was the first to take a hit. According to an official post sent out by the company’s X account:
Our teams are aware of reports of a potential security issue
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