Photo: Polygon blockchain logo / Polygon Technology, Wikimedia Commons / CC0
Binance and Polymarket have proposed a hard fork of the Polygon network to recover about 70.49 million POL tokens stolen in separate security incidents involving the two platforms, Cointelegraph reported.
According to a Wednesday governance proposal cited by the outlet, the recovery would cover 23.86 million POL, worth about $2.31 million across four addresses tied to the Polymarket hack, and 46.63 million POL, worth about $4.51 million, held in one address linked to the Binance hack — roughly $6.8 million in total.
Polygon block producers have already frozen the stolen tokens by blocking transactions from the affected addresses, but the proposal says those restrictions are temporary and cannot return the funds to their owners. The hard fork would remove the tokens from the five attacker-controlled addresses and move them to verified recovery wallets designated by Polymarket and Binance, at a predetermined block and without changing POL’s total supply.
The plan still needs governance approval and testing on Polygon’s Amoy testnet before activation. Discussion is scheduled for November 5, with no confirmed date for a mainnet hard fork.
The proposal follows Binance’s record $6.3 billion hack on October 29 and a separate incident in which Polymarket temporarily suspended trading after reporting that a third-party provider had been compromised.
JBizNews Desk | New York
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