Polymarket users favor Meteora in bets over ZachXBT crypto takedown

Users placed more than $7 million betting on the outcome of the crypto sleuth's investigation, expected to be announced on Thursday.

Users of prediction markets platform Polymarket are making bets on which crypto platform will be the next target on online sleuth ZachXBT, known for investigations into scams and hacks.

As of Tuesday, Polymarket showed a 29% chance that ZachXBT would name decentralized liquidity platform Meteora on Thursday as part of what was described as a “major investigation” into “one of crypto’s most profitable businesses.” The crypto sleuth said in a Monday X post that the investigation was related to allegations of insider trading.

According to ZachXBT, the investigation would reveal that multiple employees of the yet-unnamed exchange “abused internal data to insider trade over a prolonged period of time.” Polymarket users had the chance to bet on Meteora, MEXC, Axiom, Wintermute, and others ahead of the announcement.

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