Polymarket compromised through a third party provider

[DubemIfedigbo001]

Code can be patched, but human behavior is difficult to correct. People are often careless because they don't risk their own money, but are simply doing hired work, often irresponsibly.

I often blame big organizations for only relying on the work done by hired devs. I find it distasteful that there's no reliability tests on those codes before they're merged. There should be teams that check the code for loopholes before the patch can be deemed fit to be integrated into the main codebase. These platforms are dealing with lots of money, they should be able to have quality in-house white hats who are very experienced to point out flaws in codes. Every platform needs to run a total AI assisted security check on their codebases, we never can tell who these hackers are targeting next.

[5W-KILO]

Code can be patched, but human behavior is difficult to correct. People are often careless because they don't risk their own money, but are simply doing hired work, often irresponsibly.

I often blame big organizations for only relying on the work done by hired devs. I find it distasteful that there's no reliability tests on those codes before they're merged. There should be teams that check the code for loopholes before the patch can be deemed fit to be integrated into the main codebase. These platforms are dealing with lots of money, they should be able to have quality in-house white hats who are very experienced to point out flaws in codes. Every platform needs to run a total AI assisted security check on their codebases, we never can tell who these hackers are targeting next.

Binance exchange have teams that looks out for attacks and loopholes every now and then, but in the end they got hacked massively and right now after the Binance exchange hack few centralised banks have been hacked too.

It's not about having reliable team anymore, one step ahead is enough to get any platfrom hacked, it's not all loopholes that can be detected immediately, sometimes hackers only need few minutes to get things done and if your loophole is supposed to fixed in one hour it's late.

[Elainebue]

third party security issues are becoming a bigger concern in crypto gambling and prediction markets

[greysonz]

I'm extremely surprised this happened to Polymarket, the largest and most successful prediction platform in the world. They're raking in money, and even those who don't care about predictions have heard of them. Yes, they were caught dishonestly promoting themselves as successful and cool, but ultimately, that's what they became.
And then it turns out their contractor screwed up. This is incredible, because, in my opinion, Polymarket should have been conducting a thorough audit of each contractor. After all, it's their fault that all these leaks happen, which also affect the reputation of the service itself. In our case, Polimarket. I hope they've learned their lesson for the future.

[SuperBitMan]

Code can be patched, but human behavior is difficult to correct. People are often careless because they don't risk their own money, but are simply doing hired work, often irresponsibly.

I often blame big organizations for only relying on the work done by hired devs. I find it distasteful that there's no reliability tests on those codes before they're merged. There should be teams that check the code for loopholes before the patch can be deemed fit to be integrated into the main codebase. These platforms are dealing with lots of money, they should be able to have quality in-house white hats who are very experienced to point out flaws in codes. Every platform needs to run a total AI assisted security check on their codebases, we never can tell who these hackers are targeting next.

Binance exchange have teams that looks out for attacks and loopholes every now and then, but in the end they got hacked massively and right now after the Binance exchange hack few centralised banks have been hacked too.

It's not about having reliable team anymore, one step ahead is enough to get any platfrom hacked, it's not all loopholes that can be detected immediately, sometimes hackers only need few minutes to get things done and if your loophole is supposed to fixed in one hour it's late.

You are actually very correct as a company your loophole should not be more than a minute to fix if it’s discovered because if it takes long a hacker can use that opportunity to steal money from your company and you have to try as much as possible to avoid any loophole, don’t even expect a loophole make sure that everything is closed and well balanced don’t give the hackers the opportunity to even have access to your company even if it is a minute don’t allow it, make sure that your security is very balanced.

I believe Binance have the best security in all the exchanges in the world, but the only way they got hacked was because of a little loophole that they had and the hackers converted to an opportunity.

[Pandu Geddon]

Binance exchange have teams that looks out for attacks and loopholes every now and then, but in the end they got hacked massively and right now after the Binance exchange hack few centralised banks have been hacked too.

It's not about having reliable team anymore, one step ahead is enough to get any platfrom hacked, it's not all loopholes that can be detected immediately, sometimes hackers only need few minutes to get things done and if your loophole is supposed to fixed in one hour it's late.

I don't know how hackers carry out their actions when breaking into a platform's security systems. But one thing is certain, this year it seems there have been many hacking cases. Some gambling platforms have also been hacked and suffered losses. Prediction markets and exchanges are also not immune to hacking. Keeping funds on centralized platforms is very unwise. Just use an appropriate budget for transactions, whether for trading or gambling.

[CryptSafe]

Code can be patched, but human behavior is difficult to correct. People are often careless because they don't risk their own money, but are simply doing hired work, often irresponsibly.

I often blame big organizations for only relying on the work done by hired devs. I find it distasteful that there's no reliability tests on those codes before they're merged. There should be teams that check the code for loopholes before the patch can be deemed fit to be integrated into the main codebase. These platforms are dealing with lots of money, they should be able to have quality in-house white hats who are very experienced to point out flaws in codes. Every platform needs to run a total AI assisted security check on their codebases, we never can tell who these hackers are targeting next.

Sometimes the developers could be alright with their codes but my curiosity falls on the fact if they really do update and upgrade their security mechanism constantly because when it is being done that way regularly, loopholes could be sealed up not leaving any stone unturned. This being done constantly would keep the codes and codebase on check of there are any lapses that could be attended to with immediate effect.
That aside as you have said about teams checking the codes before adding it up to the code base, you are right because they can easily detect any lapses and make sure it is well attended to so that there would not be any possible attack in the near future.