Blockchain analytic agency Lookonchain flagged a crypto pockets allegedly belonging to Polygon Basis that transferred massive quantities of Matic tokens on Binance. Polygon Labs founder Sandeep Nailwal refuted the declare and stated it was a case of mislabeling and the pockets doesn’t belong to Polygon Basis.
Yet one more time, incorrect labelling @lookonchain. That is the second time this has occurred.
Plz watch out about these tweets , creates pointless FUDs for the group https://t.co/mVpaIYB9Xt
— Sandeep Nailwal | sandeep. polygon (@sandeepnailwal) September 7, 2023
Lookonchain flagged two wallets “Polygon Basis: 0x8d36” and “Polygon Basis: 0xf957” that collectively deposited over $5.5 million value of MATIC onto Binance over the previous 30 days with greater than half of the quantity deposited over the previous two days.
Polygon Labs CEO Marc Boiron was the primary to flag the difficulty of mislabelling to which the blockchain analyst responded that the wallets have been labeled by one other crypto analytic agency, Nansen.
Nansen responded that they undergo a rigorous course of earlier than labelling such wallets and defined that these two wallets in query had proven robust hyperlinks to key members of the Polygon.
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The agency cited key situations of interplay by Polygon Labs executives with pockets tackle 0x8d365687a75dc7688864822869ae0551bb6fc105, the place in a single occasion leads development at Polygon Sanket had despatched ETH to the talked about tackle and the identical tackle has obtained tokens from personal rounds Polygon invested in comparable to Scorching Cross.
For the second pockets tackle: 0xf957fa14ea72a9ecd7bdc06c5be89a5a34c7aa89, Nansen claimed that their “counterparties include the earlier tackle 0x8d3 and with different entities which can be tied intently with Polygon with the top of Investments being one instance. “
Nevertheless, Nansen concluded that since Polygon Labs’ CEO has publicly refuted the claims about these tackle’s hyperlinks to the agency, they’ll take away the label. Boiron thanked Nansen for eradicating the label and acknowledged that labelling wallets just isn’t a straightforward job. Polygon did not reply to Cointelegraph’s requests for feedback at press time.
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