Scammers have created impersonator versions of Polymarket – a prominent prediction market platform – to defraud users by manipulating outcomes, hiding withdrawal functions, and stealing cryptocurrency deposits.
How the Scam Platforms Work
These fraudulent sites mimic nearly all features of the real Polymarket, including yes/no bet options, live probability charts, trading volumes, and active market displays. Some even pull data from Polymarket’s public API to appear authentic. Behind the scenes, the operators control all wins and losses: victims may lose every bet, win every bet, or hit an artificially imposed win rate set by the scammer. One group called Magnetic Team introduces extra controls, such as payout caps activated when a user’s balance grows and forced losing streaks after several wins. They also simulate busy trading activity through bots, making it seem like markets are bustling with participants.
The Actors and Their Business Model
At least three Russian-speaking scam networks—AtlasCore, PolyFucked, and Magnetic Team—are reportedly providing ready-made prediction-market platforms to affiliates. These kits include complete websites, administration dashboards, payment processors, and technical support. Affiliates attract victims; the scam teams facilitate everything else. Between May and September 2026, AtlasCore claimed over US$10.97 million in deposits. PolyFucked reported around US$2.4 million in quarterly turnover. These numbers stem from the criminals themselves and could be inflated.
Manipulated Withdrawals and Data Theft
While deposits are usually accepted without issue, withdrawals are where the scam holds sway. Victims encounter a stream of false roadblocks—requests for identity verification, anti-money laundering checks, VIP upgrade fees, vague “protection” scoring, or withdrawal “taxes.” These excuses are used to prolong or block cashing out indefinitely. On top of that, these platforms often ask users for sensitive personal data like passport scans, driver’s licenses, and selfies holding IDs. The platforms may also generate tens of thousands of deposit wallets per blockchain; private keys are exposed and funds are siphoned off as soon as deposits arrive.
Use of AI, Affiliate Marketing, and Scalability
These scam operations are highly scalable thanks to AI and affiliate incentives. Operators advertise affiliate commissions of 60%–80% of net profits or victim deposits. AI tools are used to generate fake influencers, produce branding assets, translate support chats, or automate user engagement. For example, affiliates are coached to create reaction videos using blended images and to remove metadata so content appears legitimate. Support chats may be routed through AI models, and there are even backup models used if one refuses to comply with a request.
Indicators and Risk Mitigation
Warning signs include any prediction market platform claiming to be Polymarket (or Kalshi) that doesn’t use their official domain. Other red flags: sudden demands for ID before a withdrawal, new fees after wins, or social media promotions from influencers, especially on Telegram and Instagram. A detailed list of suspicious domains, IPs, and emails has been compiled, covering fake sites tied to AtlasCore, PolyFucked, and Magnetic Team.
These frauds are part of a broader trend of fake trading apps, like the DCloud Uni-App scam network, which show fake market activity and drain accounts. The infrastructure behind these platforms includes ready-to-deploy website templates, leveraged affiliate networks, AI-generated content, and escalating fraud techniques.
Why it matters: As prediction markets draw more interest, especially with crypto’s volatile price swings and growing consumer curiosity, these scams could proliferate rapidly. Awareness, domain verification, and crypto due diligence are essential defenses.
