Polycule: From Market Star to Suspected Rug Pull, $230,000 User Funds in Limbo

The Polycule project experienced a reversal from a promise of recovery to a suspected rug pull within just a few days. Once a notable trading bot in the Polymarket ecosystem, it may lose user trust entirely due to a hacking incident. The affected $230,000 user funds remain unretrievable to this day, and the project team has not provided any updates or explanations.

Event Timeline

From Promise to Breach of Trust

Credibility issues surrounding the incident

A quick overview of key details:

• The hacking occurred last Thursday, and the team subsequently announced the incident
• They specified the affected amount ($230,000) and a resolution timeframe (before the weekend)
• But as of now, none of these promises have been fulfilled
• Worse, the project team has remained silent, with no updates or explanations on progress

This shift from “having a specific fix schedule” to “total silence” is a typical characteristic of a rug pull. Users might have been willing to wait initially, but the silence has shattered the last bit of trust.

Polycule’s previous market position

According to the latest data, Polycule was one of the main trading bots within the Polymarket ecosystem. Among Polymarket Builders, Polycule had over 1,000 cumulative trading users and ranked high in market share (though not as large as Polymtrade’s 30%, it still held a significant user base).

This indicates that the project was not obscure, with a certain user base and market recognition. It also makes this incident more ironic — from a competitive product to a suspected rug pull, the contrast is stark.

The dilemma faced by users

The most directly affected are the holders of that $230,000. They are now dealing with:

• Funds locked and unretrievable
• No timeline provided by the project team for resolution
• No transparent updates on the incident’s progress
• Uncertainty about whether their funds are still safe

This uncertainty alone is enough to destroy user confidence.

Points for Reflection

This incident exposes several common issues in crypto projects:

First, security promises often don’t hold up. Projects claim to have security audits and protective measures, but many have been hacked despite these claims.

Second, lack of transparency is fatal. Even if technical issues occur, ongoing communication and progress updates can maintain some trust. Complete silence only fuels worst-case scenarios.

Finally, the speed and quality of incident response seem lacking. Truly professional teams tend to communicate more frequently with the community during crises.

Summary

The story of Polycule reflects, to some extent, the risks present in the crypto ecosystem. Projects may have started with good intentions, but how they respond in times of crisis determines everything. The current situation appears difficult to reverse — $230,000 in funds remain unresolved, the project team is silent, and users face potential total loss. For other participants in the Polymarket ecosystem, this serves as a reminder: no matter how promising a product seems, risk management and crisis response are equally important.