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Fake Prediction-Market Scam Network Claims $11 Million in Cryptocurrency

Fake Prediction-Market Scam Network Claims $11 Million in Cryptocurrency

First seen 31 Oct 2026, 04:42 UTC • •
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ThreatCluster AI
ThreatCluster •October 31, 2026 at 05:42 UTC
  • •Scam networks have claimed nearly $11 million from victims through fake trading platforms.
  • •The operations utilize AI for victim support and promotion, enhancing their deceptive tactics.
  • •Users are urged to verify URLs and avoid submitting sensitive information to unverified sites.

A cluster of Russian-language scam teams, including AtlasCore, PolyFucked, and Magnetic Team, have reportedly generated nearly $11 million in cryptocurrency deposits through fake prediction-market platforms. These platforms impersonate legitimate sites like Polymarket and Kalshi, using manipulated outcomes and blocking withdrawals. The threat actors have provided affiliates with tools to create these fraudulent sites, including admin panels and crypto payment systems. Recorded Future's Insikt Group tracked over 100 domains linked to these operations, with AtlasCore claiming approximately $10.97 million in victim deposits from May to September 2026. The scams involve sophisticated techniques such as AI-assisted victim support and fake KYC processes to collect sensitive information. Users are advised to only use verified prediction-market domains and be cautious of unexpected withdrawal fees. The ongoing operations highlight the risks associated with unverified trading sites.

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Timeline

2026-05-02
Victim deposits tracked
AtlasCore's Telegram channel recorded deposits totaling approximately $10.97 million from victims.
Gbhackers
2026-09-18
End of deposit tracking period
The tracking of deposits by Recorded Future concluded, highlighting the scale of the scam operations.
Gbhackers

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Common questions

How much money is involved in these scams?
The scam networks have reportedly claimed nearly $11 million in cryptocurrency deposits from victims.
What should users do to protect themselves?
Users should only use verified prediction-market domains and be cautious of unexpected withdrawal fees.
What methods are used to deceive victims?
The scammers employ fake platforms, manipulated outcomes, and AI-assisted victim support to enhance their deception.