A dishonest actor operates from an Ethereum wallet ‘born at work.
Uma is a “optimistic” decentralized oracle protocol that resolves disputes in prediction markets by allowing UMA tokens holders to vote the contentious results. He has faced his part of the controversy to resolve played markets, such as Barron Trump’s participation in a currency of presidential memes, the nature of “finding” the Oceanga submarine and Venezuela’s disputed election, causing criticism due to subjective decisions that frustrated certain market participants.
The data in the chain show that Babricolate.eth has approximately 1.3 million UMA tokens, which makes them one of the 5 governance between 5 and giving them a significant influence on the resolution of UMA disputes.
In the case of this Ukraine thematic market that was attacked, the contract asked the traigators to speculate on the possibility of signed an agreement that involves access to land resources of the country’s rate at the end of March.
The reports say an agreement is being prepared, but nothing has been signed. And yet, in Polymket, he resolved ‘Yes’ after Bastelate. Ots used his Uma tokens to vote ‘yes’ in the resolution.
A very non -profitable commercial strategy
Interestingly, this attack does not seem to have scored a great payment day for any of the participants.
Polymercad curator analysis market data shows that the largest winner of the contract took a little more than $ 55,000.
Similarly, the losses were quite moderate compared to other Polymarket contracts very seen with the largest losers who lost around $ 73,000.
An Etherscan page for Babirolate. ETH shows that the actor began to accumulate UMA tokens over a year ago. Given its holdings of more than 1.3 million tokens, building that type of treasury for the attack would have cost more than $ 2 million.
For its part, Polymarket says that reimbursements will not be issued because this is not a “market failure” and said in a statement on Discord that he is working with the Uma Oracle team to prevent it from happening again.
“This market resolved the expectations of our users and our clarification,” a spokesman published in Discord. “We are committed to building the future of prediction markets, which requires building resilient systems that everyone can trust.”
The founder of Polymket, Shayne Coplan, did not immediately respond to a request for comments.
