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- In response to ChainArgos, there have been a number of suspicious flows to exchanges from Polygon.
- ChainArgos claimed that the Polygon community has not sustained its authentic token allocation plan.
- The blockchain intelligence agency highlighted inconsistencies in Polygon’s vesting contract outflows.
In response to ChainArgos, a blockchain intelligence agency, there have been a number of suspicious flows to exchanges from Polygon. The agency shared particulars of its allegations in a follow-up thread on X (previously Twitter), claiming that the Polygon community has not sustained its authentic token allocation plan.
On January 15, the blockchain intelligence agency shared details about its discoveries in Polygon’s token distribution train. In response to the shared information, there’s a “vesting contract” that mechanically unlocks all flows. That’s separate from the inspiration contract that operates the inspiration and manages allocations. ChainArgos highlighted inconsistencies within the vesting contract outflows.
Within the follow-up thread, the intelligence agency noticed suspicious flows in a pockets that acquired roughly 340 million MATIC from the inspiration. It was famous that the identical pockets acquired one other 130 million MATIC from an insider pockets. In response to ChainArgos, the biggest outflow it recognized is to a pockets associated to plasma-bridge, plus two different transfers to untagged wallets.
In the meantime, ChainArgos famous one other 178 million MATIC had been despatched from one of many untagged wallets to Binance, with the newest switch occurring on Could 23, 2021. The blockchain intelligence platform supported its claims by posting a chart from the Ethereum blockchain explorer, Etherscan.
MATIC has had its share of the battle to get well from the bear market. It not often confirmed any vital bullish sentiment in 2023, aside from an preliminary rally originally of the 12 months. The blockchain token traded for $0.8170 on the time of writing, reflecting a 15% loss from its opening value on January 1, 2024, in response to information from TradingView.
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