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

Polymarket has reported a major outage and suspended all trading actions. The platform has restricted trading to cancel-only mode following reports of wallet drain incidents. This trading halt underscores existing vulnerabilities within decentralized platforms, highlighting a critical need for more robust security measures. Users are advised to exercise caution as the platform manages these security breaches and restricts activity to prevent further losses while addressing the reported wallet drain issues affecting its user base.