A pseudonymous Polymarket user, Tenadome, argued that the outcome was the result of negligence.“There is no ‘tycoon’ who ‘manipulated the oracle,’ Tenadome wrote in a March 26 X post, adding:“The voters that decided this outcome are the same UMA whales who vote in every dispute, who (1) are largely affiliated with/on the UMA team and (2) do not trade on Polymarket, and they just chose to ignore the clarification to get their rewards and avoid being slashed.”Related: Polymarket whale raises Trump odds, sparking manipulation concernsPolymarket won’t issue a refundDespite user frustration, Polymarket moderators said no refunds would be issued.“We are aware of the situation regarding the Ukraine Rare Earth Market.
This may point to a “governance attack” in which a whale from the UMA Protocol “used his voting power to manipulate the oracle, allowing the market to settle false results and successfully profit,” according to crypto threat researcher Vladimir S.“The tycoon cast 5 million tokens through three accounts, accounting for 25% of the total votes.
This market resolved against the expectations of our users and our clarification,” Polymarket moderator Tanner said, adding:“Unfortunately, because this wasn’t a market failure, we are not able to issue refunds.”Source: Vladimir S.
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Author / Journalist: Cointelegraph by Zoltan Vardai
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