The proposed network change would unlock tokens tied to funds stolen in separate hacks, valued near $6.5 million.
Polygon is reportedly weighing a hard fork that would unfreeze 70.49 million POL tokens and return them to Binance and Polymarket. The tokens, valued at roughly $6.5 million, have reportedly been locked on the network since being tied to separate hacking incidents affecting both platforms.
A hard fork is a protocol-level change that alters a blockchain's rules going forward. Unlike a simple software patch, it typically requires validators and node operators to adopt new consensus code. In this case, the fork would reportedly be designed specifically to reroute the frozen POL back to its original holders.
Details on how the stolen funds ended up frozen on Polygon were not fully disclosed in the reports. What is known is that the amount in question, 70.49 million POL, has been sitting inaccessible since the hacks occurred, unable to be moved or liquidated by either the attackers or the exchanges affected.
Binance, the world's largest cryptocurrency exchange by trading volume, and Polymarket, a prediction market platform, were both reportedly targeted in hacking incidents that resulted in funds becoming lodged on the Polygon network. The specifics of each breach were not detailed in available reporting, but the common thread is that both sets of stolen assets ended up frozen in POL form.
Hard forks used to reverse theft or exploit outcomes are not unprecedented in blockchain history. Ethereum famously executed a contentious fork in 2016 following the DAO hack, a decision that split the community and led to the creation of Ethereum Classic as a separate chain. Any similar move by Polygon would likely draw comparisons to that episode, given the implications for immutability and network governance.
Polygon has not, according to the available reporting, confirmed a final decision or timeline for implementing the fork. The proposal appears to remain under consideration, with the outcome dependent on validator and community response. Returning frozen assets via a protocol change requires broad coordination, since validators must agree to run updated software that recognizes the new transaction rules.
The situation highlights a recurring tension in blockchain networks between code-is-law principles and practical remediation for victims of theft. Networks that choose to intervene after hacks often face criticism over centralization concerns, even when the stated goal is restoring stolen funds to legitimate owners.
<h2 id="market-impact">Market Impact</h2>
If Polygon proceeds with the hard fork, it would restore roughly $6.5 million in value to Binance and Polymarket, removing those funds from limbo. For POL token holders, the episode draws attention to how network governance can intervene when large sums become frozen following security incidents.
The broader market impact is likely to be limited given the relatively modest dollar amount compared to total POL market capitalization. However, the decision could influence how other exchanges and platforms view Polygon's willingness to act after security breaches, and it may renew debate about when blockchain immutability should yield to recovery efforts.
Polygon's consideration of a hard fork underscores the ongoing balancing act between protocol immutability and practical recovery for hacking victims, with final outcomes still pending validator and community input.
<h2 id="frequently-asked-questions">Frequently Asked Questions</h2>
<h3 id="what-is-polygon-reportedly-planning-to-do">What is Polygon reportedly planning to do?</h3>
Polygon is reportedly considering a hard fork that would return 70.49 million frozen POL tokens to Binance and Polymarket.
<h3 id="how-much-are-the-frozen-tokens-worth">How much are the frozen tokens worth?</h3>
The frozen POL tokens are valued at approximately $6.5 million, according to the reports.
<h3 id="why-did-binance-and-polymarket-funds-end-up-frozen-on-polygon">Why did Binance and Polymarket funds end up frozen on Polygon?</h3>
The funds were reportedly tied to separate hacking incidents affecting both platforms, with the stolen POL becoming stuck on the network afterward.
<h3 id="what-is-a-hard-fork-and-why-would-it-be-used-here">What is a hard fork and why would it be used here?</h3>
A hard fork changes a blockchain's underlying protocol rules. In this case, it would reportedly be used to unfreeze and redirect the stolen POL back to its original holders.
<h3 id="has-polygon-confirmed-the-fork-will-happen">Has Polygon confirmed the fork will happen?</h3>
No final decision or timeline has been confirmed publicly. The proposal reportedly remains under consideration pending validator and community agreement.
Update 05 Nov 2026, 06:06 UTC · added by Cointelegraph
Cointelegraph reports the stolen tokens have already been frozen by Polygon block producers, with the proposed hard fork serving to formally recover and return the funds rather than merely freeze them. It also puts the current value of the frozen POL at approximately $6.8 million, up from the roughly $6.5 million figure cited earlier.
Update 05 Nov 2026, 06:16 UTC · added by CryptoBriefing
CryptoBriefing reports the plan has taken the form of a formal Polygon Improvement Proposal (PIP) calling for a hard fork of the Polygon PoS mainnet, specifying that the mechanism would zero out five attacker-controlled addresses and redirect the roughly 70.49 million POL to verified recovery accounts.
Update 05 Nov 2026, 07:07 UTC · added by CoinGape
Newer reporting from CoinGape specifies the mechanics of the proposed fork: 23.86 million POL would be moved from a blocked attacker address tied to Polymarket and 46.63 million POL from one tied to Binance, with both sums transferred into verified recovery wallets while total supply remains unchanged. CoinGape also reports the proposal is slated for discussion on November 5.
Update 05 Nov 2026, 09:01 UTC · added by Coinfomania, Cryptonews.com, TronWeekly
The newer reporting clarifies the mechanics of the proposal: TronWeekly reports that Polygon validators have been formally asked to vote on the measure, which would move the frozen tokens into verified recovery wallets without altering the network’s total supply. Coinfomania confirms the proposal, framed as a Polygon Improvement Proposal, is set to be discussed by the community, while Cryptonews.com puts the recoverable sum at closer to $7 million.
Update 05 Nov 2026, 10:07 UTC · added by BitKE, U.Today
BitKE reports the proposal would move the frozen POL from five attacker-controlled addresses specifically into verified recovery wallets, and that Binance and Polymarket have already identified the affected funds and proposed those recovery wallets; it also notes Polygon block producers’ involvement in the process. BitKE and U.Today put the value at roughly $6.8 million and $6.5 million respectively, slightly higher than the original figure.
Update 06 Nov 2026, 00:14 UTC · added by Coin Edition, CryptoPotato
CryptoPotato reports the hard fork proposal is scoped to native POL only, leaving Binance’s separately frozen USDT untouched. Coin Edition adds that the 70.49 million POL sits across five attacker-controlled addresses, that Binance and Polymarket must first verify ownership of their designated recovery wallets, and that total POL supply would remain unchanged with no mainnet activation block yet set.
Update 06 Nov 2026, 03:01 UTC · added by AMBCrypto
AMBCrypto reports the proposal would move the stolen POL out of five identified attacker-controlled wallets into recovery wallets designated for the purpose, and ties the incidents to security breaches at Polymarket and Binance in October.
Originally reported by <a href="https://altcoingordon.com/polygon-weighs-hard-fork-return-70-49m-frozen-pol-binance/" rel="noopener noreferrer nofollow">AltcoinGordon</a>, written by Sophia Bennett. Republished with permission.
<a href="https://altcoingordon.com/polygon-weighs-hard-fork-return-70-49m-frozen-pol-binance/" rel="noopener noreferrer nofollow">View the original on AltcoinGordon →</a>
The post <a href="https://thecoinrise.com/polygon-weighs-hard-fork-to-return-70-49m-frozen-pol-to-binance-polymarket/" rel="noopener noreferrer nofollow">Polygon Weighs Hard Fork to Return 70.49M Frozen POL to Binance, Polymarket</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Polygon Weighs Hard Fork to Return 70.49M Frozen POL to Binance, Polymarket

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