Polygon is considering a hard fork to recover $6.8 million in cryptocurrency stolen in separate security incidents involving Binance and Polymarket.
The proposal seeks to transfer 70.49 million POL from five attacker-controlled addresses to verified recovery wallets.
Key developments:
Binance and Polymarket have identified the affected funds and proposed recovery wallets.
Polygon block producers have already blocked transactions from the addresses, preventing the funds from moving.
The proposed hard fork would allow the network to transfer the assets without the attackers’ private keys.
The intervention would not change POL’s total supply.
Polygon’s governance process must approve the proposal before implementation.
A hard fork is a permanent, non-backward-compatible change to a blockchain’s underlying protocol rules that splits the network into two separate, parallel blockchains.
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The proposal is scheduled for discussion at the Polygon Protocol Governance Call on November 5, with implementation expected to take approximately two weeks if approved.
The recovery effort raises broader questions about blockchain governance, decentralisation and whether networks should intervene to reverse the effects of major security breaches.
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