#Polygon Polygon proposes hard fork to recover $7M in stolen Binance, Polymarket funds
Pol developers want to do something blockchains rarely do: rewrite balances on purpose. A new Pol Improvement Proposal (PIP) calls for a hard fork of the Pol Proof-of-Stake (PoS) mainnet to claw back stolen tokens tied to separate security incidents at Binance and Polymarket
The target is roughly 70.49 million native POL, worth around 7 million, sitting in five attacker-controlled addresses. The tokens are already frozen. The fork would move them back to their rightful owners
What the proposal would actually do
The PIP was introduced on Nov 4, 2026, by Parvez03, a member of the Polygon Labs validator support team. It describes an exceptional state change to the network’s ledger, not a routine upgrade.
The stolen funds trace back to two incidents on Oct 29 and 30. About 23.86 million pol ended up across four addresses connected to the Polymarket breach. Another roughly 46.63 million pol sits in a single address linked to the Binance incident
Under the proposal, all five addresses would have their balances set to zero. Matching amounts would then be credited to verified recovery accounts set up for each victim.
The total supply of pol would not change. No new tokens get minted, and none get burned. The coins simply change hands, from the thieves back to the people they were taken from
Frozen, but not finished
Polygon’s block producers have already added the five addresses to a transaction denylist. That blocks the funds from moving, at least in theory
The attackers have not exactly given up. According to the proposal’s backers, they keep trying to push the assets out through high-fee transactions and alleged bribery of validators
Developer teams have stressed that the measure is extraordinary. They say it is not meant to set a precedent for future incidents
The scope is also narrow. The recovery covers only the native pol still locked on Polygon PoS. Other tokens involved in the incidents, including USDT, fall outside this proposal
#Write2Earn #pol $POL