Polygon Advances 70.49 Million POL Recovery Proposal After Governance Call

Polygon Foundation says a proposal to redirect 70.49 million Polygon Ecosystem Token (POL) from five blocked addresses has moved into internal planning after a governance call, advancing a recovery effort tied to two crypto incidents.

The foundation’s recap described the proposal as approved at the Nov. 5 Polygon Protocol Governance Call, with internal discussion and planning to follow. The hard fork has not been activated. Activation would require approval through Polygon’s governance process and an Amoy testnet sign-off.

The proposal calls for a one-time hard fork to remove native POL from the five addresses and credit matching balances to designated recovery wallets. It links one address holding 46.63 million POL to Binance and four addresses holding 23.86 million POL in total to Polymarket. The proposal valued the rounded amount at about $6.5 million using POL’s Oct. 29 price of $0.0924. Balances would be checked again at the fork snapshot, so the final amount could change. Total POL supply would remain unchanged.

The proposal estimates roughly two weeks for client development and an Amoy testnet rehearsal after approval, but does not set a fork name, activation block or client release. Polygon block producers have restricted transfers from the addresses, a measure that does not return the funds to their owners.