Polymarket’s $10M Fraud Attempt Puts Its Rapid U.S. Growth Under Scrutiny

TLDR: Polymarket faced at least $10M in stolen-card fraud, testing safeguards behind its rapid U.S. expansion. Checkout.com rejected over 80% of deposits as fraudulent at one point, versus an industry rate near 1%. Fraud levels stayed elevated until May, prompting debit-card limits and the hiring of fraud firm Riskified. The CFTC is reportedly investigating the [...]

The post Polymarket’s $10M Fraud Attempt Puts Its Rapid U.S. Growth Under Scrutiny appeared first on Blockonomi.