The proposed intervention would transfer the frozen assets from five attacker-controlled addresses into verified recovery accounts associated with the affected parties. If approved, the measure would directly alter balances recorded on the blockchain, an unusual step for a network designed to preserve transaction history and ledger immutability.
Polygon Proposal Targets 70.49 Million POL
The Polygon Improvement Proposal (PIP) was submitted on November 4, 2026, by Parvez03, a member of the Polygon Labs validator support team. It outlines a targeted change to the network state rather than a conventional software upgrade.
The assets are linked to two incidents reported on October 29 and 30. Approximately 23.86 million POL was distributed across four addresses associated with the Polymarket breach, while another 46.63 million POL is held in a single address linked to the Binance incident.
Under the proposed hard fork, the balances of all five addresses would be reduced to zero. Equivalent amounts would then be credited to verified recovery accounts established for the victims.
The proposal states that the operation would not alter POL's total supply. No additional tokens would be issued or permanently removed from circulation; the existing assets would instead be reassigned to their intended recipients.
Stolen POL Is Already Frozen on Polygon PoS
Polygon block producers have already placed the five addresses on a transaction denylist, preventing the funds from being transferred through normal transactions.
However, supporters of the proposal say the attackers have continued attempting to move the assets. Those efforts reportedly include high-fee transactions and alleged attempts to bribe validators.
Developers have described the proposed recovery as an extraordinary intervention and said it is not intended to establish a precedent for handling future security incidents.
The measure also has a defined scope. It applies only to native POL tokens remaining on Polygon PoS. Other assets connected to the incidents, including USDT, are not covered by the proposal.
Binance and Polymarket Have Already Reimbursed Most Users
Both Binance and Polymarket have already reimbursed most of the users affected by their respective incidents, according to the source material.
As a result, the proposed fork is not primarily intended to provide the initial compensation to individual victims. Instead, it would recover the remaining stolen tokens still held on-chain, potentially allowing the companies to recoup assets after covering user losses.
Polygon Governance to Discuss Proposal on November 5
The proposal is scheduled for discussion during Polygon's Protocol Governance Call on November 5, 2026, at 14:30 UTC.
If the community approves the measure, developers expect client implementation and validation on the Amoy testnet to take approximately two weeks before a possible mainnet deployment.
The proposal has not yet been approved, meaning the recovery remains conditional on the governance process and subsequent technical work.
Hard Fork Raises Questions About Blockchain Immutability
Reversing or changing recorded balances through a hard fork touches on one of the central principles of public blockchain networks: confirmed transactions are generally expected to remain part of the permanent ledger.
Polygon's proposal seeks to limit that intervention through formal governance approval, a narrowly defined group of affected addresses and a supply-neutral transfer mechanism. Developers have also emphasized that the measure is exceptional rather than a standard response to stolen funds.
For POL holders, the proposed design means the recovery itself would not increase or decrease the token's total supply. The assets being reassigned were already part of the existing token supply.
If the recovery proceeds, Binance and Polymarket could also regain some of the assets associated with reimbursements they have already made to affected users. The outcome will depend on the community's decision and the technical validation process.
source: cryptobriefing
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.
