A thug actor operating from an Ethereum “ “ “ “ “ “-out-out ” engaged in a governance attack on UMA, a decision-making oracle used by Polymarket, to attack the result of a contract on the theme of Ukraine by becoming one of the largest holders of UMA tokens.
UMA is a decentralized “optimistic” “optimistic” oracle protocol that solves disputes in the prediction markets by allowing UMA token holders to vote on litigious results. He was confronted with his share of controversy to resolve the disputed markets, such as the involvement of Barron Trump in a presidential play of meme, the nature of “ to find ” the Oceangate submarine and the disputed elections of Venezuela, aroused criticism due to subjective decisions that frustrated certain participants in the market.
The data on the chain show that BorntoOlate.eth has around 1.3 million UMA tokens, making it a governance staker among the first 5 and giving them a significant influence on the resolution of UMA disputes.
In the case of this market on the theme of Ukraine which has been attacked, the contract asked the bettors to speculate on the possibility of a signed agreement involving American access to the country’s land resources by the end of March.
An agreement is underway, depending on the report, but nothing has been signed. And yet, on Polymarket, he decided to “yes” after Borntoole.eth used his UMA milestone tokens to vote “yes” on resolution.
A very unprofitable trading strategy
Curiously, this attack does not seem to have marked a great salary for any of the participants.
Polymarket Analytics conservative market data show that the largest contract winner has won just over $ 55,000.
Likewise, the losses were quite moderate compared to other polymarket contracts closely viewed with the largest loser losing around $ 73,000.
A page of etherscan for Bornto-weth.eth shows that the actor began to accumulate UMA tokens over a year ago. Given their assets of more than 1.3 million tokens, the construction of this type of treasure for the attack would have cost more than $ 2 million.
For his part, Polymarket says that no reimbursement will be issued because it is not a “market failure” and said that in a press release on Discord, he works with the Uma Oracle team to prevent him from reproducing.
“This market has resolved against the expectations of our users and our clarifications,” said a spokesperson on Discord. “We are committed to building the future of prediction markets, which requires building resilient systems in which everyone can trust.”
The founder of Polymarket, Shayne Coplan, did not immediately respond to a request for comments.
