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 about the crypto asset’s backer dumping MATIC on the world’s largest crypto alternate platform by quantity have been incorrectly labeled.
In accordance to Nailwal, this isn’t the first 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 (worry, uncertainty, and doubt) for the neighborhood.”
Earlier this week, blockchain knowledge tracker Lookonchain reported that two addresses allegedly linked to the Polygon Basis deposited a mixed $5.9 million value of MATIC to Binance throughout the final 30 days.
Polygon Labs’ chief govt Marc Boiron chimed in, additionally saying that Lookonchain made a mistake.
“You could have incorrectly labeled this pockets. It’s not a Polygon Basis pockets.”
Nonetheless, in accordance to blockchain analysis agency Nansen, the addresses have been linked to the Polygon Basis utilizing knowledge from earlier transactions.
“The proof for each of those addresses exhibits a really sturdy 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, we now have eliminated the labels as [Marc Boiron], CEO of Polygon Labs, has publicly introduced that the tackle is just not theirs.”
MATIC is buying and selling for $0.556 at time of writing, a fractional enhance throughout the final 24 hours.
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