Predict.fun prediction market user lost 400K USDT transferred out without auth

[Karl_3000]

Yeah, I just checked again, and the site is up, but I couldn't do anything apart from viewing it. Maybe they didn't take it completely offline. It's my first time hearing about the site, but somehow, I feel like I've visited it before because the name sounds familiar.

The name is also very familiar to me. I have browsed about it to know if they have anything in the past that they have done on this forum before, but I did not see anything than the news of today that everyone is talking about which is the hack of $400000 from the prediction market by hackers. I think it would have been on the news that I heard about it because I like reading crypto news. The prediction market has a coin also which could be what I have seen before but forgotten about it.

Regardless, this shows that no platform is completely safe, especially those that integrate crypto services into their websites. Hackers are becoming more dangerous and sophisticated with their attacks, and no platform is completely safe from them. These platforms need to keep checking for security loopholes and fixing them before hackers discover and exploit them. It's really worrying that this year has been one of the worst for hacks, with major platforms and exchanges falling victim to attacks.

But I like how the site are making their customers not to lose their money, unlike how it was before that such thing can happen and the site will fold up and customers will lose. But amy coins that is not used to gamble should not be on a gambling or prediction market site.

[mak013]

Predict.fun, a prediction market platform on the BNB Chain, has been the scene of unauthorized fund transfers from users' wallets, leading to a collective loss of about 400,000 USDT. Early investigations suggest that the third-party service provider's website, which hosts the API documentation, might have been compromised, impacting a few users over a short period. The website has been taken offline and will stay closed until the investigation concludes.

Predict.fun assures full compensation to users who have directly suffered losses from this incident and will issue a comprehensive review report and outline follow-up preventative measures once the investigation is complete.

https://x.com/predictdotfun/status/2115089547528950108

It is not a large sum. I believe it may even be beneficial - they lost a small amount in order to fix their security problems. That is cheap enough compared with what they could have lost.

Of course, I don't think they're happy, but it shouldn't become a problem - users get compensation, Predict.fun has fixed its security, and maybe it will get some compensation from the owner of the host where the API was hosted.

[Sim_card]

I don't understand if hacker are only targeting the prediction market, how they hack so easily, their evil is increasing with time

Not at all, they are targeting every big company rendering services and uses crypto. Hackers have hacked Bitget, coldcard wallet, Ledger, Duelbit casino and some that I cannot remember. It's like AI is really helping these hackers to succeed in these evil deeds.