Predict.fun pledges full refunds after $400,000 security breach

The prediction market platform Predict.fun has committed to fully reimbursing all users affected by a recent security breach that resulted in the loss of approximately 400,000 USDT.

On-chain investigators and analysts reported that at least 19 wallets were targeted, with some estimates noting the loss of roughly 105 ETH. The stolen funds were reportedly bridged to Ethereum and routed through the cryptocurrency mixer Tornado Cash to obscure the transaction history.

The company traced the vulnerability to a third-party site used to host its developer API documentation rather than a flaw in its smart contracts. As a precaution, Predict.fun has taken the documentation site offline and is conducting a full investigation. The incident occurred shortly after the platform's integration with Binance Wallet and the opening of PREDICT airdrop claims.