WuBlockchain
A Polygon Labs Validator Support Team member has proposed a Polygon PoS hard fork to recover about 70.49 million POL stolen in incidents involving Polymarket and Binance. The funds are valued at about $6.5 million using October 29 prices and are currently restricted from transfer by block-producing nodes.
Why it matters
The proposal would move about 23.86 million POL tied to the Polymarket incident and 46.63 million POL tied to Binance from attackers' addresses to recovery addresses designated and verified by the two institutions. It says the transfer would not change the token's total supply.
The plan raises a governance question for Polygon: whether a network upgrade should be used to redirect funds linked to theft when the addresses are already blocked from transferring them.
Market impact
The proposal is due for discussion at the Polygon Protocol Governance Call on November 5. If approved, client development and testnet rehearsals are expected to take about two weeks. The proposal is not yet an approved network change.
Source: [PIP Proposal: Recovery of Funds Held in Blocked Addresses following the Polymarket and Binance Incidents — Polygon Community Forum](https://forum.polygon.technology/t/pip-proposal-recovery-of-funds-held-in-blocked-addresses-following-the-polymarket-and-binance-incidents/22497)
Frequently asked questions
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How much POL does the proposal seek to recover?
It targets about 70.49 million POL, valued at about $6.5 million using October 29 prices.
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How are the POL funds divided between the incidents?
About 23.86 million POL is tied to the Polymarket incident, while about 46.63 million POL is tied to Binance.
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How would the proposed recovery work?
A Polygon PoS hard fork would move the POL from attackers' addresses to recovery addresses designated and verified by Polymarket and Binance.
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Would the hard fork change POL's total supply?
No. The proposal says the transfer would not change the total token supply.
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When will Polygon discuss the proposal?
It is scheduled for discussion at the Polygon Protocol Governance Call on November 5. If approved, client development and testnet rehearsals are expected to take about two weeks.
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