Binance and Polymarket have proposed a Polygon community onerous fork to recuperate roughly 70.49 million POL tokens, price about $6.8 million, stolen in separate safety incidents involving the 2 platforms.
According to a Wednesday governance proposal, the restoration would cowl 23.86 million POL, price $2.31 million throughout 4 addresses related to the Polymarket hack and 46.63 million POL, price about $4.51 million, held in one handle linked to the Binance hack.
The proposed onerous fork would take away the stolen tokens from the 5 attacker-controlled addresses and switch them to verified restoration wallets designated by Polymarket and Binance. The method would happen at a predetermined block with out altering POL’s whole provide.
Polygon block producers have already blocked transactions from the affected addresses, stopping the stolen funds from transferring. Nevertheless, the proposal mentioned the restrictions are momentary measures that can’t return the funds to their homeowners.
The plan requires governance approval and testing on Polygon’s Amoy testnet earlier than activation. It’s scheduled for dialogue on Nov. 5, with no confirmed date for the mainnet onerous fork.
The proposal follows Binance’s record $6.3 billion hack on Oct. 29 and a separate incident in which Polymarket temporarily suspended trading after reporting {that a} third-party supplier had been compromised.
Associated: Binance traces $6.3B hack to fake job interviews, compromised AI tool
Cointelegraph by Ezra Reguerra Polygon Hard Fork Could Recover $6.8M in Stolen Binance, Polymarket Funds cointelegraph.com 2026-11-05 06:02:29
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