@lordmiles is running what looks like the biggest scam on
@Polymarket users to date. So far
@Polymarket has done nothing.
We are about to find out whether
@Polymarket will choose to remain complicit and allow Miles to exploit their platform to conduct an obvious scam against their own T&C, or whether they will step in and protect their users.
The setup is simple. Lord Miles said he would fast for forty days alone in a Saudi desert. It later turned out that it was "too hot for his equipment." He then moved his tent to a glamping resort on the outskirts of Riyadh.
He was no longer alone and he was not not in a desert, but
@Polymarket said "Lord Miles is currently water fasting in a confirmed desert," presumably because the resort is surrounded by a desert.
It did not make much sense, but well, OK, we move on.
On day twenty eight he announced a switch to a generator due to local electricity works and said he would be offline for two hours. That was three days ago. There has been no message and no proof of life since then. Users have confirmed that at the very least mobile data at the resort remained available, which means the power issue does not explain total silence.
In the meantime, evidence surfaced that just before going dark, Miles placed a bet of $30k (with $60k upside) against himself completing the fast.
He shared his own ETH address in 2024:
nitter.app/real_lord_miles/statusâŚ
Funds moved from that address to another wallet, for example this fifteen thousand dollar transfer:
etherscan.io/tx/0x18be26005eâŚ
From there, funds went to Polymarket via the deposit function:
etherscan.io/tx/0x8370136b79⌠polygonscan.com/tx/0x098d537âŚ
The timing and amounts line up. The linked Polymarket account then bought at least ninety thousand No shares for about thirty thousand dollars:
polymarket.com/@MONEYMONEYPLâŚ
Multiple users also observed that this account sent orders while Miles was live on his computer.
There is an obvious conflict of interest when Miles being a subject of a market places large directional bets on the outcome while controlling the flow of information. Silence becomes a tool for price impact. That is market manipulation in plain terms even before you reach on chain links.
Put together, this points to a simple scheme. Miles bet against his own fast, disappeared to push the price, and attempted to profit from the fear and uncertainty that followed. A further risk is obvious. After dumping No into the rally created by his silence, he could return with after-the-fact footage, switch to Yes, and try to profit again.
Critically,
@Polymarket rules do not require a continuous livestream. They allow offline recording with later uploads. That is however not a license to deceive the market. The platformâs Terms and Conditions prohibit fraud, deception, and manipulation. The conduct described here fits those prohibitions.
@Polymarket team, can you please freeze any accounts linked to Miles and prevent them from cashing in on their Nos, given obvious criminal activity? And please prevent Miles from trying to rig the market again by trying to turn it into Yes after all.
If you fail to act, you will be permitting a user to run a scam on your own customers. It would also create a dangerous precedent.