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Polygon

avoid.net/polygon→54/100·75% conf.
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Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·3aqtGa…Y1Xi
last updated 2026-07-25

Summary

Polygon (formerly Matic Network) is a Layer 2 scaling solution for Ethereum, originally founded in 2017 by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. The project rebranded from Matic Network to Polygon in February 2021 and has grown into one of the most widely used Ethereum scaling platforms, though it has faced regulatory scrutiny from the SEC, allegations of token misallocation by on-chain analytics firm ChainArgos, and a significant undisclosed security vulnerability patched in 2021. The network's native token migrated from MATIC to POL in September 2024 as part of a broader Polygon 2.0 roadmap.

Connected Entities

8 entities · 60 linked investigations
Organizations
□Polygon□Cosmos (ATOM)□Ethereum□Binance□Cardano□Solana□Algorand
Tokens
♦Coinbase
Relationships
  • Ethereum→mentioned with→Coinbase(60%)
  • Binance→mentioned with→Ethereum(65%)
  • Cosmos (ATOM)→mentioned with→Binance(60%)
  • Polygon→mentioned with→Cosmos (ATOM)(60%)
  • Polygon→mentioned with→Algorand(60%)
  • Polygon→mentioned with→Ethereum(70%)
  • Polygon→mentioned with→Solana(60%)
  • Polygon→mentioned with→Binance(70%)
  • Polygon→mentioned with→Cardano(60%)
  • Polygon→mentioned with→Coinbase(60%)
  • + 6 more
Also appears in
StableMagnet·2Shibarium·28JUDAO·18Shibarium Bridge·32Ionic Money·14Allo Protocol·57AnubisDAO·2SushiSwap RouteProcessor Exploit·54Phantom Wallet·63CryptoJS Ill Bloom — Weak RNG Multi-Wallet Drain (CVE-2026-71851)·4

Connected Through

8 shared actors · 600 investigations

Distinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.

Have evidence about Polygon?

Timeline(15 events)

2017

Matic Network conceptualized and founding team (Kanani, Nailwal, Arjun) begins development.

Young Platform / Bitget

April 2019

Matic Network conducts its initial exchange offering (IEO) on Binance, distributing tokens to the public.

BeInCrypto

February 2021

Matic Network rebrands to Polygon, signaling expansion into a broader multi-chain scaling platform.

Bitcoin.com

3 December 2021

White hat hackers disclose a critical vulnerability in Polygon's MATIC genesis contract via Immunefi. A malicious actor exploits the bug and steals 801,601 MATIC (~$1.8M) before the patch is complete.

Decrypt

5 December 2021

Polygon executes an emergency hard fork to patch the smart contract vulnerability affecting ~9.2 billion MATIC. The patch is deployed without public announcement.

CoinTelegraph

30 December 2021

Polygon publicly discloses the December vulnerability and hack after the patch is confirmed complete. Pays ~$3.46M in bounty rewards to white hat reporters.

Decrypt

February 2023

Polygon Labs lays off approximately 20% of staff (~100 employees) in internal restructuring.

MetaIntro

March 2023

ChainArgos publishes on-chain analysis alleging 400 million MATIC designated for staking rewards were instead routed to Binance-associated addresses.

CoinTelegraph

5 June 2023

SEC files suit against Binance, explicitly listing MATIC among 12 tokens it considers unregistered securities. Robinhood subsequently delists MATIC.

The Block

12 June 2023

Polygon Labs issues public rebuttal to SEC's security classification, emphasizing global community and non-U.S. development and deployment.

CoinDesk

February 2024

Polygon Labs announces a second round of layoffs, cutting 60 roles (approximately 19% of staff). Polygon ID and Polygon Ventures are spun off as standalone entities.

TechCrunch

4 September 2024

MATIC-to-POL token migration goes live. POL replaces MATIC as the native gas and staking token for Polygon PoS.

CoinDesk

September 2025

Polygon reports that 99% of MATIC supply has successfully migrated to POL.

AMBCrypto

13 January 2026

Polygon Labs announces $250M+ acquisition of Coinme and Sequence to build stablecoin payments infrastructure under the Open Money Stack strategy.

CoinDesk

16 January 2026

Polygon Labs reported to have laid off an additional 60 staff following the $250M acquisition announcement, while stating overall headcount remains stable.

CoinDesk
Provenance & Audit Trail
Anchored on SolanaVerify on-chain19 Wayback Archives

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (3 events). 19 of 21 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-code-investigator

generated: 5/20/2026, 3:42:22 AM

last updated: 7/25/2026, 10:30:02 AM

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