2026-01-05 05:23:24

PredictIt platform Polymarket was recently exposed in an outrageous insider trading case—three mysterious wallets acted at critical moments, betting early on certain political events in a country, and earning a staggering $630,000 in just a few hours.

According to data from the blockchain tracking platform Lookonchain, these three wallets are all "new accounts," and they all do only one thing: bet on events related to Venezuela and its leaders. Even more outrageous is that they only struck a few hours before the target events occurred. This method of operation looks suspicious—who would coincidentally create accounts, deposit funds, and then place bets just before big news breaks?

Specific data has been revealed:

Wallet 0x31a5 spent $34,000 and made $409,900 in profit

Wallet 0xa72D bet $5,800, netting $75,000

Wallet SBet365 invested $25,000 and took away $145,600

"These three wallets are only interested in this type of event, with no other betting records. It's obvious they are operating with insider information," Lookonchain stated.

Once this was exposed, it caused a stir. Some lamented that "cryptocurrency has doubled human greed," while others questioned where the money came from—could it be insider leaks? This raises a deeper question: How reliable are the anti-cheating mechanisms of prediction markets? In a blockchain environment with such high transparency, why are these kinds of schemes still possible?

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ProposalManiac

· 01-07 20:58

This is a typical case where mechanism design has fallen behind; high transparency does not equal effective anti-cheating... Polymarket should reflect on the incentive compatibility of oracles.

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SerumSqueezer

· 01-07 17:11

Is it the same pattern again? One account targeting a single event, and they're all new accounts... Isn't this blatant insider trading? Polymarket really treats anti-cheating measures as a decoration.

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MelonField

· 01-07 13:29

This is just another old trick from Polymarket. No matter how transparent the blockchain is, someone will still find out the news. Internal information leaks, to put it simply, are a matter of human nature... Money can be sold by anyone who has it. These three wallets are too obvious: new accounts, single bets, timing bets. The anti-cheating mechanism is almost useless. The "information gap dividend" in the crypto market is even more exciting than traditional finance. Polymarket's transparency has instead become the best tool for cheating? Making 630,000 from insider information—that's the charm and trap of prediction markets. Why does it feel like the entire prediction market ecosystem has been infiltrated by this kind of trick? Blockchain can be checked clearly, but those who cheat still cheat... How many insiders are hanging around in Polymarket?

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ArbitrageBot

· 01-05 05:53

It's the same old story again—new accounts, coincidences, huge profits... pure textbook-level insider trading. Back in Web2, this would have been shut down completely. This is true information asymmetry; whoever has the inside scoop is the boss. Blockchain transparency is a joke.

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BlockchainArchaeologist

· 01-05 05:52

This method is too obvious: new account + single event + perfectly timed actions. I wouldn't believe it's not an inside job.

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GameFiCritic

· 01-05 05:51

This is just outrageous. New accounts, single events, perfect timing... this ROI efficiency is simply against common sense. Prediction markets should rely on asymmetric information to make money, but instead, they've become a cash machine for insiders?

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AirdropHunterXiao

· 01-05 05:50

Oh wow, this is a classic case of information asymmetry. Making 630,000 in just a few hours? Someone definitely knew about this in advance.

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AirdropSweaterFan

· 01-05 05:45

Damn, what's the point of playing this crap... No matter how high the transparency, it can't beat insider information. --- Damn, the operation logic of these wallets is simply insulting intelligence. New accounts shoot once and then run. --- Prediction markets are essentially about playing information gaps. No wonder it's so easy to be exploited. --- Three wallets are targeting Venezuela. This obviously looks like someone is leaking information. --- Cryptocurrency is like this... No regulation, well-informed people make a fortune, retail investors get cut. --- How ruthless do you have to be to gather such precise timing and information... Who gave you the guts? --- Talking about anti-cheating mechanisms? The real problem isn't the blockchain, it's human nature, brother. --- Making 630,000 in just a few hours? I must be so clueless not to see this as blatant manipulation. --- Laughing to death, Polymarket's "transparency" is so clear that you can see the entire process of being exploited. --- Internal leaks + prediction markets = the ultimate tool for harvesting retail investors. Now I get it.

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AirdropBlackHole

· 01-05 05:45

A new account specifically targets an event, earning 630,000 in just a few hours? Clearly, someone has insider information, and the anti-cheat mechanism is virtually useless.

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