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Binance and Polymarket seek Polygon hard fork to recover $6.8m in stolen POL

The two platforms have proposed a governance vote on a hard fork that would move about 70.49 million POL from five attacker-controlled addresses into recovery wallets.

InvestIn.News NewsDesk · 1 min read
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Picture from Cointelegraph for: Binance and Polymarket seek Polygon hard fork to recover $6.8m in stolen POL
Image: Cointelegraph
Original reporting: Ezra Reguerra, Cointelegraph

Key points

  • The proposal covers 23.86 million POL, worth $2.31m, across four addresses linked to the Polymarket incident
  • A further 46.63 million POL, worth about $4.51m, sits in one address tied to the Binance hack

Binance and Polymarket have put forward a Polygon hard fork proposal to recover about 70.49 million POL, worth roughly $6.8m, taken in separate security incidents affecting the two platforms. Cointelegraph reports that the request was filed as a governance proposal on 4 November.

The proposal covers 23.86 million POL, valued at $2.31m, spread across four addresses associated with the Polymarket hack. A single address linked to the Binance hack holds another 46.63 million POL, worth about $4.51m.

Governance and testing

Under the plan, the stolen tokens would be taken from the five attacker-controlled addresses at a set block and sent to recovery wallets confirmed by Polymarket and Binance. POL's total supply would stay the same. Polygon block producers have already stopped transactions from the affected addresses, but the proposal describes that as a temporary step that cannot return funds to their owners.

Governance approval and testing on Polygon's Amoy testnet are needed before activation.

Read the full story on Cointelegraph

Live updates on NewsFeeds:AltcoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Cointelegraph’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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