Blockchain analytic firm Lookonchain flagged a crypto wallet allegedly belonging to the Polygon Foundation that transferred large amounts of MATIC (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.