Binance and Polymarket have proposed a hard fork of the Polygon network to recover approximately 70.49 million POL, worth about $6.8 million, stolen in separate security incidents involving the platforms.
A governance proposal says the funds include 23.86 million POL, valued at about $2.31 million, held across four addresses associated with the Polymarket incident, and 46.63 million POL, worth roughly $4.51 million, in an address linked to the Binance hack.
Under the plan, the tokens would be removed from five attacker-controlled addresses at a predetermined block and transferred to recovery wallets verified by Binance and Polymarket. The proposal says the change would not alter POL’s total supply.
Polygon block producers have already blocked transactions from the affected addresses, preventing the tokens from moving. The proposal describes these restrictions as temporary, however, and says they do not return the funds to their owners.
The hard fork would require governance approval and testing on Polygon’s Amoy testnet before activation. The proposal is scheduled for discussion on Nov. 5, but no date has been confirmed for a mainnet fork.
Sources: Cointelegraph.