Nansen responded that they go through a rigorous process before labelling such wallets and explained that these two wallets in question had shown strong links to key members of the Polygon.
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.Polygon Labs CEO Marc Boiron was the first to
the issue of mislabelling to which the blockchain analyst responded that the wallets were labeled by another crypto analytic firm, Nansen.that they go through a rigorous process before labelling such wallets and explained that these two wallets in question had shown strong links to key members of the Polygon.
For the second wallet address: 0xf957fa14ea72a9ecd7bdc06c5be89a5a34c7aa89, Nansen claimed that their “counterparties consist of the previous address 0x8d3 and with other entities that are tied closely with Polygon with the head of Investments being one example. “ However, Nansen concluded that since Polygon Labs' CEO has publicly refuted the claims about these address’s links to the firm, they are going to remove the label. Boiron thanked Nansen for removing the label and acknowledged that labelling wallets is not an easy task. Polygon didn't respond to Cointelegraph's requests for comments at press time.
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