According to BeInCrypto, Polymarket has frozen new trades following reports from users that approximately $1.4 million in funds have been withdrawn or removed from accounts. The platform did not immediately provide further details on the cause of the withdrawals or confirm whether user losses are covered by any insurance or operational safeguard.
Multiple users posted publicly that they experienced unexpected drains of money from their Polymarket accounts around the same time the trading halt was implemented. No official statement from Polymarket regarding responsibility for the lost amounts has been released at this stage.
The temporary suspension applies only to new trade submissions; existing orders may continue to process under current rules. Users are advised to monitor official channels for updates on resolution and any support measures being considered.
