Summary
Polycule (ticker: PCULE) is a Telegram-based trading bot built for the Polymarket prediction market platform, operating on Solana and Polygon. Launched in May 2025 by a founder identified as 'krish' and backed by a $560,000 seed from AllianceDAO, the project gained significant traction before its bot was compromised in January 2026, resulting in approximately $230,000 in user funds stolen. Extended team silence following the incident generated widespread rug pull allegations, and ZachXBT has flagged the entity in connection with these concerns.
Connected Entities
1 entitiesTimeline(7 events)
2025-05-18
Polycule founder 'krish' launches the PCULE token on Solana via the Bellive platform; market cap reaches approximately $15 million USD at peak.
2025-06-08
Polycule announces a $560,000 seed investment from AllianceDAO, disclosed publicly on X by founder krish.
2025-10-01
Polycule founder krish announces the launch of PMX, a permissionless prediction market platform built in partnership with Meteora. PCULE token is rebranded as PMX; token surges 43.97% within 24 hours to a $22.8 million market cap.
2026-01-07
Polycule team announces a security breach affecting approximately $230,000 in user funds; bot is taken offline. Team promises patches, a security audit, and user reimbursement via Polygon treasury 'before the weekend.'
2026-01-08
KuCoin News and multiple crypto outlets report the hack. PMX Trade posts on X confirming the vulnerability and reimbursement commitment.
2026-01-12
Team's self-imposed deadline passes with no updates, no audit report, and no reimbursements. User withdrawals remain frozen. Competitor Ryan Chi of Insiders.bot publicly declares the situation a confirmed rug pull on X.
2026-01-13
Crypto media (MEXC News, Phemex, WEEX, Cryptorank) cover the developing rug pull accusations. Team remains silent. ZachXBT flagged in connection with the entity.
Decision Log
- hash: 5NdSQZ83sTW9ALcofVSGdWuoK9zfMDg2YvpEjU66S1BV
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:14 AM
last updated: 5/29/2026, 2:35:11 AM
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