- Lookonchain claims that Polygon has been concerned in a large switch of MATIC to Binance.
- Polygon executives Sandeep Nailwal and Marc Boiron dismiss the fees, claiming that the wallets don’t belong to the corporate.
- Lookonchain clarifies that the information was collected from the on-chain analytics device Nansen.
Sandeep Nailwal, the co-founder of the Polygon Basis, has denied allegations that wallets linked to the muse had been concerned in a current dump of MATIC on Binance. Nailwal’s denial got here in response to a put up on X by on-chain analytics platform, Lookonchain, exhibiting {that a} pockets allegedly linked to Polygon had lately offered $3.35 million price of MATIC on Binance, creating FUD (worry, uncertainty, and doubt) in the neighborhood.
Earlier right now, Nailwal took to X (Twitter) to dismiss Lookonchain’s report, asserting that the findings had been “incorrect”. He claimed that this isn’t the primary time Lookonchain has been responsible of sharing inaccurate info with its followers. Requesting the platform be vigilant to keep away from any additional unecessary FUD, Nailwal requested Lookonchain to be “cautious about these tweets”.
On September 7, Lookonchain shared a Twitter thread posing an alarming query, “Is Polygon promoting MATIC?”. The thread shared that an handle recognized as “Polygon Basis 0x8d36” had been concerned in a switch of 6 million MATIC, price $3.35 million, to the outstanding change Binance, over the previous 48 hours. The thread additionally identified that one other handle marked as “Polygon Basis 0xf957” had preiouvsly moved 4.6 million MATIC, price $2.57 million to Binance, in a single month.
Dismissing Lookonchain’s affiliation between Polygon and the MATIC selloff, Marc Boiron, CEO of Polygon Labs, got here ahead to make clear that the addresses concerned weren’t linked to Polygon. He tweeted that pockets has been “incorrectly labeled”, including, “It isn’t a Polygon Basis pockets”.
Subsequently, Nailwal additionally identified the defective findings of the Lookonchain, in an try to guarantee the neighborhood. Lookonchain responded by declaring that the pockets addresses had been labeled by fellow on-chain crypto analytics device, Nansen.
