Home » Polygon Founder Responds to Allegation That the Crypto Asset’s Backer Dumped Over $5,900,000 in MATIC on Binance

Polygon Founder Responds to Allegation That the Crypto Asset’s Backer Dumped Over $5,900,000 in MATIC on Binance

by CoinVeem

The founding father of the Ethereum (ETH) layer-2 scaling resolution Polygon (MATIC) is responding to allegations that the Polygon Basis deposited almost $6 million price 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 alternate platform by quantity had been incorrectly labeled.

In keeping with Nailwal, this isn’t the primary time Lookonchain has mislabeled one among their wallets.

“Yet 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 price of MATIC to Binance over the last 30 days.

Polygon Labs’ chief govt Marc Boiron chimed in, additionally saying that Lookonchain made a mistake.

“You will have incorrectly labeled this pockets. It isn’t a Polygon Basis pockets.”

Nevertheless, in line with blockchain analysis agency Nansen, the addresses had been linked to the Polygon Basis utilizing knowledge from earlier transactions.

“The proof for each of those addresses exhibits 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, we’ve eliminated the labels as [Marc Boiron], CEO of Polygon Labs, has publicly introduced that the deal with is just not theirs.”

MATIC is buying and selling for $0.556 at time of writing, a fractional enhance over the last 24 hours.

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Characteristic Picture: Shutterstock/Dolan Mbengi

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