Polygon considers hard fork to return $6.5M stolen in Binance, Polymarket hacks

Polygon has received a proposal to recover approximately 70.49 million POL, worth $6.5 million, stolen during separate security incidents involving Binance and Polymarket. Summary A Polygon Labs validator-support team member has proposed a hard fork to recover approximately 70.49 million POL linked to the Polymarket and Binance security incidents. The proposal covers 23.86 million POL associated with Polymarket and 46.63 million POL associated with Binance, valued at approximately $6.5 million using October 29 prices. Polygon block producers have restricted transfers from five identified addresses, but the existing restrictions do not return the funds. The proposed hard fork would transfer the blocked POL to verified recovery wallets without increasing the cryptocurrency’s total supply. The proposal is scheduled for discussion on November 5 at 14:30 UTC. If approved, development and testing could take roughly two weeks. In a November 4 proposal, Parvez03, a member of the Polygon Labs Validator Support Team, suggested a coordinated hard fork of the Polygon Proof-of-Stake network. The change would return the stolen tokens to verified wallets controlled by the affected companies. The ...