Predict.fun hack: attackers drain $400,000 from Binance-linked prediction market, full refunds promised

27 Oct 2026

27 Oct 2026, 19:21 UTC+01:00

Exchanges TradeReviewed News Desk

Predict.fun, the prediction market built into Binance Wallet’s prediction tab, has lost about $400,000 in USDT to attackers, BeInCrypto reported on Tuesday. The team says every affected user will be reimbursed in full.

What happened at Predict.fun

According to Predict.fun’s early findings, the weak point was not the prediction market contracts themselves but the platform’s API documentation site, a help page that shows developers how to connect to the service. That site is run by an outside provider and has been taken offline. Predict.fun has not said how many users were affected.

“As such, we will fully reimburse all affected users for any funds lost as a direct result of this incident,” the team said, as quoted by BeInCrypto.

Earlier on Tuesday, on-chain investigator Naeven had flagged at least 19 wallets linked to the platform losing around 105 ETH, roughly $260,000, with funds routed to Tornado Cash. The figure has since grown to about $400,000 as more losses were counted.

PREDICT token and the $1.43 billion valuation

The incident came only two days after Binance Futures launched pre-market contracts on PREDICT, the project’s token, with up to 5x leverage. The token has not launched yet, but those contracts put its implied valuation near $1.43 billion.

• One analyst cited by BeInCrypto said that valuation was “dozens of times higher than comparable projects”.
• The same analyst checked 28 earlier tokens Binance listed through pre-market contracts and found the typical one was down 49% a month after launch.
• Predict.fun has not yet published PREDICT’s token distribution.

Binance does not own Predict.fun. The connection comes from the Binance Wallet prediction tab, which the platform has powered since testing began in March, and from YZi Labs, the investment firm backed by Binance founder Changpeng Zhao, which expanded its stake in April.

Second prediction market breach via a vendor in four months

This is not the first time an outside provider has been the entry point. In June, rival Polymarket pledged full refunds after a third-party vendor’s code drained about $3 million from users. Two refund pledges in four months show that prediction markets are only as safe as the tools and services wrapped around them.

What it means for traders

• Leverage on an unlaunched token is high risk. PREDICT pre-market contracts trade before any token distribution data exists, and a security incident adds another layer of uncertainty to the price.
• Watch for the post-mortem. The full incident report and the token ownership breakdown are the next items to track before trading PREDICT.
• Pick venues on security, not just listings. Our crypto exchange comparison and testing method explain how we rate platforms. In our tests BingX ranks #1 and OKX #2; see also BingX vs OKX.

Not financial advice.

Related reviews

• Bingx review
• Okx review

Sources

• BeInCrypto: Hackers Drain $400,000 From Binance-Linked Prediction Market

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