Polymarket suffers governance attack due to UMA whale intervention

Polymarket would have experienced a governance attack on their prediction market linked to the Ukrainian mineral agreement of Trump due to a last minute intervention from a whale that overthrew the results in their favor.

According to a report by Wu Blockchain, an initiate whale spent 5 million UMA (A) tokens to vote on the final result for the Polymarket POOL de Paris entitled “Ukraine accepts the trumping mineral agreement before April?”

Due to the intervention of the last minute of the whale, he was able to reverse the final results by bombing 25% of “yes” votes. Thus, the whale was able to handle the end result through the UMA oracle.

Polymarket uses UMA’s optimistic oracle to settle market results and check the events of the real world. Oracle d’Uma is based on community consensus, quoting UMA token holders as “the impartial referee of the results of the relevant markets”.

The volume of funds that circulated in the Paris pool amounted to more than $ 7 million. Due to the incident, many merchants of polymarkets who were betting “no” have undergone thousands of losses.

When the final result was published, many traders argued that there was no official confirmation which indicated an agreement between the president Asset and the Ukrainian The government had been officially signed.

According to a report By Reuters, on March 25, Trump said that he expected an income sharing agreement between the United States and Ukraine to be “signed soon”. However, traders challenged that this was not enough to confirm the results of the Paris Basin.

“It’s a big joke, Zelensky has just announced that they are examining a more important affair. This means that there was no agreement before, Wow Real Scam,” said a Polymarket trader in the comments of the Paris basin.

“In the American presidential election of 2028, the one who has more UMA will decide who will win the presidency, and Polymarket will become a joke,” said another trader.

A user on X with the @ web3marmot handle called polymarket in a recent jobAccusing the market platform for the prediction of the scam of its users. They said that the results of the events are not determined by real world events. Instead, they alleged that the final results are determined by an “influential users who guarantee positions and then vote in their favor, whatever the real results”.

In addition, they explained that Uma Whales had voted “yes”, although the agreement was not officially signed or announced. This means that UMA token holders finally decide on the final result, not real events.

“The rules clearly indicate:” The source of resolution of this market will be the official information of the governments of the United States and Ukraine. However, there is no confirmation of the agreement or the outcome of the decision, “wrote Web3marmot.

Polymarket’s response to controversy

In an article shared on DiscordHas a Polymarket representative recognized the controversy surrounding the Trump Mineral agreement before April? “Pool from Paris.

“We are aware of the situation concerning the Ukrainian market for rare land. This market has resolved against the expectations of our users and our clarification. Unfortunately, because it was not a market failure, we are not able to issue reimbursements,” said Tanner, representative of Polymarket.

The Polymarket team considers the situation as an “unprecedented situation” and says that it has worked with the Uma Oracle team to prevent it from happening again. In addition, the team promises to share more details for merchants as they try to better understand the situation and implement clearer rules.

“We are committed to building the future of the prediction markets, which requires building resilient systems in which everyone can trust,” wrote Tanner on the Polymarket Discord canal.