Polymarket Account in Farage Backer's Name Took $9M in Crypto From Unknown Sources
DECRYPT ·
The Financial Times reported that a Polymarket account in the name of George Cottrell—a convicted fraudster who has bankrolled Nigel Farage—took in $8.8 million in crypto from unidentified sources in 2024. The "GCottrell93" account staked the money on Donald Trump winning the U.S. election, booked $4.46 million in profit, then moved almost all of it out to other wallets. An earlier Sunday Times investigation found that Cottrell had paid for travel, staff, and accommodation for the Reform UK leader, benefits that Farage denied required registration. A Polymarket account in the name of George Cottrell, the convicted fraudster who has bankrolled Reform UK leader Nigel Farage, took in $8.8 million in cryptocurrency from unidentified sources in 2024 and used it to bet on Donald Trump's election victory, the Financial Times reported. The account, registered as "GCottrell93," was filled in late October 2024 from two crypto exchanges—$7 million from OKX, sent in five tranches, and $1.83 million routed through ChangeNOW, the FT said, citing public blockchain data. Each time money landed, it was immediately staked on a Trump win. After his victory, which the account turned into $4.46 million in profit, almost all the funds were moved back out to other wallets. Who provided the money, and who collected the winnings, is unclear. The prediction market account has not been formally linked to Cottrell. Blockchain investigator ZachXBT has said he holds "high confidence" that it belongs to him, after flagging it earlier this year over a $550,000 loss on a bet about U.S. strikes on Iran. Cottrell's lawyers declined to comment on his finances or specific transactions, and said their silence did not mean he accepted the FT 's findings. Reform UK did not respond to the paper.
AI 시장 분석
A Polymarket account registered under the name of Nigel Farage's donor has reportedly received 9 million dollars in cryptocurrency from an unclear source. This influx of funds is amplifying concerns over the transparency and source-of-funds verification of political prediction markets. Investors should pay attention to regulatory risks and potential declines in market trust regarding political betting platforms.
하락 영향
- Cryptocurrency — Opaque fund inflows and suspicions of illicit funds in political prediction markets could intensify regulatory pressure across the cryptocurrency sector.
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