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Flash

Polymarket's annual revenue exceeds 1 billion dollars

According to CNBC, Polymarket stated that its annual revenue has significantly exceeded $1 billion, a development that comes just six weeks after its U.S. trading platform lifted the waiting list. The platform operates independently from its international DeFi prediction market and will gradually expand user access after its launch in December this year.Driven by the FIFA World Cup, the trading activity in the prediction market has significantly increased, with trading volumes across multiple platforms rising simultaneously. Data shows that the daily trading volume on the U.S. platform has grown from about $50 million in mid-May to over $200 million on June 20 (based on Dune Analytics data).Meanwhile, its international platform set a record for weekly trading volume during the World Cup, reversing the downward trend seen in April and May. The U.S. business was previously restricted due to regulatory issues in 2022, but resumed operations in the form of a regulated exchange after the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice dropped their investigation and did not file charges in 2024.Currently, the U.S. platform is primarily mobile-based, requiring users to download the app via a QR code to trade, with the desktop version not yet available. Polymarket stated that it will continue to optimize market experience, liquidity, and product design to enhance both institutional and consumer-level experiences in the prediction market.

Coinbase assists the Brooklyn District Attorney's Office in combating fraud cases, involving approximately 16 million dollars

Coinbase officially stated that it is cooperating with the Brooklyn District Attorney's Office in New York, assisting in the investigation of a long-term impersonation fraud case targeting platform users and supporting victims in recovering funds.According to the Brooklyn District Attorney's Office, a Brooklyn man has been charged with long-term impersonation of Coinbase customer service, using social engineering techniques to mislead users into believing their accounts were compromised and requesting them to transfer funds to a "secure wallet," subsequently transferring and stealing the funds. The case involves approximately 100 victims, with the amount in question nearing $16 million, and over $600,000 has been recovered so far.Coinbase stated that such scams do not stem from platform security vulnerabilities but are social engineering attacks that exploit user trust and urgency, with common tactics including identity forgery, impersonating customer service, and creating account risk panic. The company claims to have cooperated with law enforcement to complete various investigative tasks, including identifying suspects, assisting victims in notifications, providing legal request data support, and on-chain fund tracking, emphasizing that blockchain traceability helps law enforcement track the flow of funds.Coinbase also reminds users that the platform will never ask users to transfer funds to a "secure wallet," nor will it request 2FA verification codes, recovery phrases, or password reset links, and advises users to contact customer service only through official in-app channels. The company will continue to strengthen anti-fraud mechanisms, user education, and cooperation with law enforcement to address the increasingly complex cryptocurrency asset fraud.
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