Polygon Considers Hard Fork to Return $6.5M Stolen in Binance, Polymarket Hacks
The proposal would move stolen POL from five blocked addresses to verified recovery wallets after separate Binance and Polymarket incidents, with supply unchanged.
- On Wednesday, Parvez03, a member of the Polygon Labs Validator Support Team, published a Polygon Improvement Proposal suggesting a hard fork to recover approximately 70.49 million POL stolen from Binance and Polymarket.
- Security incidents on Oct. 29 and Oct. 30 prompted the proposal after attackers targeted both platforms. While Polygon block producers restricted transactions from five addresses, these temporary measures cannot return the assets to their owners.
- Recovery targets 23.86 million POL linked to Polymarket, worth $2.31 million, and 46.63 million POL associated with Binance, valued at about $4.51 million. These balances would transfer to verified recovery wallets.
- Presentation occurs at the Polygon Protocol Governance Call today, Nov. 5, at 14:30 UTC. If approved, developers will test balance transfers on the Polygon Amoy test network.
- No confirmed date exists for the mainnet hard fork, which requires governance approval and extensive testing to prevent chain-split risks. The proposal describes this intervention as an "extreme action that should not be reproduced commonly.
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Cointelegraph
The New York LedgerPolygon Hard Fork Could Recover $6.8M in Stolen Binance, Polymarket Funds
Polygon block producers have already frozen the stolen tokens, but a proposed hard fork would allow the funds to be recovered and returned to their owners.
Following the hacking of the Binance and Polymarket platforms at the end of October, 70.5 million tokens POL find themselves blocked on addresses belonging to the attackers. In order to recover them, Polygon has just proposed an exceptional hard fork presented as an extreme measure. The article Polygon: a hard fork to recover 70.5 million POL stolen during the hacks of Binance and Polymarket appeared first on Cryptoast.
Binance and Polymarket Push for Polygon Fork to Recover $6.8M Stolen Crypto
Binance and Polymarket have jointly proposed a Polygon hard fork designed to recover roughly 70.49 million POL tokens—assets they say were stolen in two separate security incidents tied to the companies. The tokens are valued at about $6.8 million at the amounts cited in the governance proposal. According to the Wednesday proposal posted on the [...]
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