Polygon governance proposal seeks hard fork to recover 70.49 million stolen POL
CIE News ·
Based on reporting by crypto.news; not yet independently confirmed.
A Polygon governance proposal advocates for a hard fork to recover 70.49 million POL stolen from Binance and Polymarket, with the tokens currently frozen across five addresses.
Polygon has received a governance proposal to execute a hard fork aimed at retrieving 70.49 million POL, valued at roughly $6.5 million, stolen in security breaches targeting Binance and Polymarket, crypto.news reported. Introduced on November 4, 2026, by Parvez03 of the Polygon Labs Validator Support Team, the proposal calls for updating the Polygon Proof-of-Stake network to shift the restricted tokens directly to verified recovery addresses controlled by the two entities without inflating the total token supply.
The initiative addresses 46.63 million POL stolen from Binance alongside 23.86 million POL taken from Polymarket during breaches on October 29 and October 30. All four Polygon block producers previously blacklisted and froze the five perpetrator addresses holding the funds, preventing any outgoing transfers. The proposal is set for discussion during the Polygon Protocol Governance Call on November 5, 2026, and would require approximately two weeks to implement if approved by validators and the DAO.
Key facts
- 70.49M POL recovery proposed
- Polygon PoS hard fork suggested
- $6.5M in frozen funds targeted
- Binance and Polymarket affected
Read the original at crypto.news