Polymarket has completed its private key rotation and plans to migrate the private keys to a key management service in the future.

CoinFeed reported on May 23 that a representative from the prediction market Polymarket stated that the security incident stemmed from the leakage of a private key that had been used for six years. This private key was used for internal deposit configuration, resulting in some funds flowing to related addresses. The team has since completed private key rotation and reclaimed all production environment access. The next step is to migrate all private keys to a Key Management Service (KMS), abandoning the traditional storage method. The platform and UMA contracts were not compromised, user funds are safe, and platform operations are unaffected.