The top eight wallets on Polymarket netted over $1.2 million by betting on ZachXBT’s investigation into Axiom, raising insider trading concerns among blockchain researchers. A small group of crypto wallets won more than $1.2 million betting on a Polymarket contract tied to an onchain investigation into decentralized finance (DeFi) trading platform Axiom, fueling fresh concerns that prediction markets can reward people with advance knowledge of market-moving disclosures. The eight most profitable wallets on the market collectively made about $1.2 million, according to trading data compiled on Dune. The same dataset showed more than 50 wallets posting combined losses of roughly $1.23 million, while two wallets lost about $366,000. Eight out of the top 10 wallets are likely insider addresses, judging by their onchain transaction patterns, according to onchain researcher Defioasis. “There are 3 addresses that achieved profits exceeding $100,000, all of which are insider addresses that traded only this single mark...
Galaxy research head Alex Thorn warned that unconfirmed transactions may give some Coldcard users a narrow opportunity to save their funds. Update (Aug. 3 at 4:19 am UTC): This article has been updated with the latest estimated number of affected addresses and Bitcoin from Galaxy’s Alex Thorn. Coldcard users are being warned of a new wave of coordinated thefts targeting their Bitcoin hardware wallets, coming just days after the first wave of attacks on Thursday. In an X post on Monday, Galaxy research head Alex Thorn flagged hundreds of transactions impacting 709 potential victim addresses, moving around 448.7 Bitcoin (BTC). Read more