Polycule Rug Pull Leaves Users Unable to Withdraw Funds—Project Under Scrutiny

As of January 12th, Polycule, a trading bot operating on the Polymarket platform, has allegedly orchestrated an exit scam, leaving community members unable to access their funds. According to PANews reporting and ongoing community discussions, the situation represents a significant blow to users who had entrusted their assets to the platform.

The Hacker Attack Narrative and $230K in Losses

The Polycule team initially attributed the crisis to a security breach, claiming hackers had compromised the system and drained approximately $230,000 in user funds. At that time, the team went offline and pledged to implement patches and undergo security reviews, promising completion by the weekend. However, days have passed since these assurances were made, and the project has failed to deliver on its commitments.

No Recovery in Sight—Users Left Hanging

What started as a purported security incident has evolved into what many in the community now suspect is a deliberate rug pull—a coordinated exit scam where developers abscond with user assets. As of the most recent update, affected investors remain locked out of their funds, unable to execute any withdrawals. More concerning is the complete radio silence from the Polycule development team, with no substantive updates provided to concerned users since their initial statements.

The lack of transparency and failure to deliver promised fixes has compounded skepticism within the crypto community about whether this was ever truly a hacker attack, or if Polycule was designed as a mechanism for fund appropriation from the outset.