Predict.fun, a prediction market platform accessible through Binance Wallet, confirmed on October 27, 2026 that unauthorized transfers had drained funds from a number of user wallets. The company said the losses occurred in two separate waves, on October 22 and October 27, and pledged to reimburse all direct losses stemming from the incident.
According to an analysis by blockchain data firm Bitquery, 29 wallets were affected in total, a figure that revises upward from initial reports suggesting at least 19 wallets had been hit. The first wave of thefts, on October 22, accounted for 125,029 USDT. The second and larger wave, on October 27, saw 272,679 USDT drained. Combined, the two incidents total 397,708 USDT.
Predict.fun's preliminary investigation points to a possible breach of its API documentation site, which is hosted by a third-party provider. As a precautionary measure, the platform has taken the documentation page offline and said it will remain down until the investigation is complete. The company has not yet published a technical report detailing how access was obtained or what preventive measures will follow.
How the funds moved
Bitquery examined 33 drain transactions linked to the incident and found that none of them called Predict.fun's own smart contracts. Instead, the transfers were signed using the private keys belonging to the affected wallets themselves. Predict.fun relies on smart wallets and allows users to interact with its markets through programming tools, a setup that gives the API layer a central role in how transactions are authorised.
Stolen funds were moved from BNB Chain to Ethereum using cross-chain transfer services, according to Bitquery's tracing. From there, 166.8 ETH was sent to Tornado Cash, the sanctioned mixing service long used to obscure the destination of stolen crypto assets.
Binance's role
Predict.fun's markets are reachable through Binance Wallet, which gives users a route into the platform, but Binance has clarified that it does not operate Predict.fun's markets and does not act as counterparty to trades placed on them. The platform remains an independent service despite the integration.
The incident lands two days after Binance Futures added pre-launch perpetual contracts for the PREDICT token, a timing that has drawn attention given the proximity to the hack announcement, though no causal link between the two events has been established.
For now, the exact method used to compromise the affected wallets remains unconfirmed, as does the precise vulnerability behind the suspected documentation site breach. Predict.fun has not detailed the scope or timeline of the reimbursement process it has promised to users.
