🚨 70.49 million POL are stuck in 5 addresses. The proposed recovery method: change the rules of one chain
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On November 6, a Polygon improvement proposal entered discussion: at a designated block, zero out the POL balances of 5 addresses linked to the attackers, then credit the same amount to verified recovery addresses. The funds are tied to the Binance incident and another incident.
The reference balance in the proposal is 70,489,329.34 POL. Of that, 46,626,593.27 POL is attributed to the Binance incident, or 66.2%; another 23,862,736.07 POL is spread across 4 addresses, or 33.8%.
📊 Put simply, the method is a hard fork: read the state at a fixed block and change the balances. According to the proposal, these assets are worth about $6.8 million.
But the numbers need to be reconciled one by one. The other incident is estimated to involve about 28 million POL, while the 4 addresses actually selected hold about 23.86 million POL, covering roughly 85% and leaving a gap of around 4.14 million. The amount transferred from Binance's hot wallet also differs by 4 POL from the balance later recorded at the receiving address. When dealing with 46 million POL, 4 POL doesn't affect the conclusion—but the implementation must choose a number to hard-code.
🔸 The proposal chooses to use “the full balance immediately before activation” and to publish the snapshot in advance, so the change can be verified.
💡 What really matters isn't “whether a hard fork can recover the funds,” but that the process has three steps: on-chain balances are frozen → they become balances controlled by the recovery team → they become compensation users can claim. The proposal only addresses the first two steps.
⚠️ The slowest part is the transition from step two to step three: money in a wallet doesn't mean the platform will recognize the claim, complete the process, and send the funds to your account. No one can speed up that chain of events with a single fork.
📌 So when reading this proposal, the key points aren't the 70.49 million figure, but when the snapshot will be published, who controls the verified recovery addresses, and when the two platforms will provide a compensation timeline.
A hard fork can rewrite balances, but it can't rewrite the compensation process—would you call this a technical victory or a procedural compromise?
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On November 6, a Polygon improvement proposal entered discussion: at a designated block, zero out the POL balances of 5 addresses linked to the attackers, then credit the same amount to verified recovery addresses. The funds are tied to the Binance incident and another incident.
The reference balance in the proposal is 70,489,329.34 POL. Of that, 46,626,593.27 POL is attributed to the Binance incident, or 66.2%; another 23,862,736.07 POL is spread across 4 addresses, or 33.8%.
📊 Put simply, the method is a hard fork: read the state at a fixed block and change the balances. According to the proposal, these assets are worth about $6.8 million.
But the numbers need to be reconciled one by one. The other incident is estimated to involve about 28 million POL, while the 4 addresses actually selected hold about 23.86 million POL, covering roughly 85% and leaving a gap of around 4.14 million. The amount transferred from Binance's hot wallet also differs by 4 POL from the balance later recorded at the receiving address. When dealing with 46 million POL, 4 POL doesn't affect the conclusion—but the implementation must choose a number to hard-code.
🔸 The proposal chooses to use “the full balance immediately before activation” and to publish the snapshot in advance, so the change can be verified.
💡 What really matters isn't “whether a hard fork can recover the funds,” but that the process has three steps: on-chain balances are frozen → they become balances controlled by the recovery team → they become compensation users can claim. The proposal only addresses the first two steps.
⚠️ The slowest part is the transition from step two to step three: money in a wallet doesn't mean the platform will recognize the claim, complete the process, and send the funds to your account. No one can speed up that chain of events with a single fork.
📌 So when reading this proposal, the key points aren't the 70.49 million figure, but when the snapshot will be published, who controls the verified recovery addresses, and when the two platforms will provide a compensation timeline.
A hard fork can rewrite balances, but it can't rewrite the compensation process—would you call this a technical victory or a procedural compromise?
Tap my profile picture to watch the livestream + join my fan group for daily strategies 🚀
#公链 #加密监管 #DeFi
