Binance and Polymarket Propose Polygon Hard Fork to Recover Stolen Funds

Binance and Polymarket have submitted a governance proposal to execute a hard fork on the Polygon network. The goal is to recover approximately 70.49 million POL tokens, valued at around 6.8 million dollars, which were stolen in recent attacks.

The total includes 23.86 million tokens linked to breaches at Polymarket and 46.63 million tokens tied to an incident at Binance. Polygon block producers have already blocked transactions from the affected addresses to prevent the assets from moving.

The current freezing measure is temporary and does not allow for the return of funds to the original owners. The proposed hard fork would remove the tokens from the attackers' addresses and transfer them to recovery wallets verified by the companies.

The process will not change the total supply of POL tokens and will occur at a predetermined block. The proposal requires governance approval and testing on the Amoy testnet before any final implementation on the mainnet.

Discussion regarding the plan is scheduled for November 5. There is no set date for the execution of the hard fork on the Polygon mainnet.