Polymarket Copy-Trading Bot Exposed for Malicious Code on GitHub

On December 21, SlowMist’s Chief Information Security Officer, 23pds, retweeted a warning about malicious code in a Polymarket copy-trading bot on GitHub, posing security risks.

The incident exposes vulnerabilities in crypto bot software, risking user funds and highlighting the importance of scrutinizing GitHub repositories for hidden threats. No official statements have been issued.

Malicious Code Threatens User Security on Polymarket

The developer of a Polymarket copy-trading bot hid malicious code in GitHub, leading to a security alert on December 21 by SlowMist’s 23pds.

The hidden code in the bot’s program allowed access to user private keys, posing substantial risk to user funds on the platform.

On December 21, SlowMist’s Chief Information Security Officer 23pds retweeted a community user’s tweet, alerting users to malicious code found in a GitHub repository by developer “Trust412.” The malicious code was hidden repeatedly across multiple submissions in the “polymarket-copy-trading-bot” repository, potentially exposing users to fund theft.

“If you are interested in general commentary on the risks associated with unverified GitHub repositories or the impact on the crypto market in this context, you may want to consider the community activity and social media discussions surrounding similar topics.”

Users are urged to be cautious with any unaudited code repositories.

Historical Incidents Spotlight Unseen Security Gaps

Did you know? Past incidents of unauthorized code in prediction market tools have often gone undetected until substantial user losses occurred, spotlighting security lapses.

As per CoinMarketCap data, USDC trades at $1.00, with a market cap of $77.07 billion and a 2.59% market dominance. The recent volatility in 24-hour trading saw a turnover of $3.89 billion, reflecting a 66.52% decrease. Price changes remain minimal, illustrating stability yet highlighting vulnerability in securing protocol backend.

Insights from the Coincu research team highlight the risk of open-source vulnerabilities in decentralized networks and emphasize the tech industry’s need to prioritize code verification processes. Long-term, improved verification might mitigate security risks and prevent such breaches.