The founding father of the Ethereum (ETH) layer-2 scaling answer Polygon (MATIC) is responding to allegations that the Polygon Basis deposited almost $6 million value of the digital asset on Binance.
In a brand new thread on the social media platform X, Polyon founder Sandeep Nailwal says that earlier experiences concerning the crypto asset’s backer dumping MATIC on the world’s largest crypto change platform by quantity have been incorrectly labeled.
Based on Nailwal, this isn’t the primary time Lookonchain has mislabeled one in all their wallets.
“Another time, incorrect labeling, Lookonchain. That is the second time this has occurred. Please watch out about these tweets, creates pointless FUDs (concern, uncertainty, and doubt) for the group.”
Earlier this week, blockchain information tracker Lookonchain reported that two addresses allegedly linked to the Polygon Basis deposited a mixed $5.9 million value of MATIC to Binance over the past 30 days.
Polygon Labs’ chief govt Marc Boiron chimed in, additionally saying that Lookonchain made a mistake.
“You might have incorrectly labeled this pockets. It isn’t a Polygon Basis pockets.”
Nevertheless, in keeping with blockchain analysis agency Nansen, the addresses have been linked to the Polygon Basis utilizing information from earlier transactions.
“The proof for each of those addresses reveals a really robust hyperlink to varied people and entities of the Polygon Basis and that’s why we had labeled these addresses as a part of the Polygon Basis. As a gesture of goodwill, now we have eliminated the labels as [Marc Boiron], CEO of Polygon Labs, has publicly introduced that the tackle shouldn’t be theirs.”
MATIC is buying and selling for $0.556 at time of writing, a fractional enhance over the past 24 hours.
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