Binance, Polymarket seek Polygon hard fork to recover $6.8M in stolen crypto
Polygon block producers have already frozen the stolen tokens, but a proposed hard fork would allow the funds to be recovered and returned to their owners.
Polygon block producers have already frozen the stolen tokens, but a proposed hard fork would allow the funds to be recovered and returned to their owners.
Binance and Polymarket have proposed a Polygon network hard fork to recover approximately 70.49 million POL tokens, worth about $6.8 million, stolen in separate security incidents involving the two platforms.
According to a Wednesday governance proposal, the recovery would cover 23.86 million POL, worth $2.31 million across four addresses associated with the Polymarket hack and 46.63 million POL, worth about $4.51 million, held in one address linked to the Binance hack.
The proposed hard fork would remove the stolen tokens from the five attacker-controlled addresses and transfer them to verified recovery wallets designated by Polymarket and Binance. The process would take place at a predetermined block without changing POL’s total supply.