How a 5-Second Binance Move Turned Polymarket Settlements Into an $8.2M Payday
Researchers from Stanford University and Singapore Management University have identified that 821 accounts exploited settlement windows on Polymarket's prediction markets, extracting $8.2 million through market manipulation. The exploit involved manipulating prices on Binance during settlement windows to ensure favorable contract resolutions. Polymarket has since updated its settlement mechanics to a time-weighted average price (TWAP) to prevent future manipulation, a change that took months of trader complaints and academic research to implement.
EGamers.io
- Entities
- Chainlink
- Singapore Management University
- Commodity Futures Trading Commission
- Polymarket
- Stanford University
- Kalshi
- Cryptocurrency
- Axis Robotics
- Binance
- Market Manipulation
- Prediction Markets
- Bitcoin
Original source
This article was reported and published by EGamers.io. feed.gg links to it as part of a story cluster — full text, images and rights remain with the publisher.