Polygon Foundation denies MATIC dump on Binance, claims wallets were mislabeled

Nansen, which was responsible for labelling these wallets, claimed that these addresses showed strong links to Polygon; however, it removed the label after Polygon CEO’s public refute.

Blockchain analytic firm Lookonchain flagged a crypto wallet allegedly belonging to the Polygon Foundation that transferred large amounts of MATIC tokens on Binance. Polygon Labs founder Sandeep Nailwal refuted the claim and said it was a case of mislabeling and that the wallet doesn’t belong to the Polygon Foundation.

Lookonchain flagged two wallets, “Polygon Foundation: 0x8d36” and “Polygon Foundation: 0xf957,” that collectively deposited over $5.5 million worth of MATIC onto Binance over the past 30 days, with more than half of the amount deposited over the past two days.

Read More: https://cointelegraph.com/news/polygon-foundation-denies-matic-dump-binance