Polymarket restricts trading to cancel-only mode amid wallet drain reports

The prediction market paused new trades and relayer actions as unconfirmed reports of drained wallets and a compromised frontend spread on social media Polymarket has put its trading floor on lockdown. On October 29, 2026, the prediction market restricted trading to cancel-only mode and paused relayer actions after unconfirmed reports of drained wallets and a possibly compromised frontend. Cancel-only mode works the way it sounds. Users can pull existing orders, but nobody can place new ones. Users were warned not to connect wallets or sign transactions while the situation develops. What reportedly happened Reports of unauthorized withdrawals and suspicious signature prompts began surfacing on social media. Several users described what looked like a frontend compromise, and reported losses were estimated in the hundreds of thousands. Those figures come from user reports and remain unconfirmed. Polymarket has not issued an official statement on the incident. A frontend compromise is different from a smart-contract hack. The frontend is the website you see and click on, while the smart contracts are the on-chain code that actually holds and moves funds. If attackers tamper with the w...