Polygon’s 8 million USDT0 holders face scrutiny as 58% of growth matches scam patterns

Polygon's surging USDT0 holder count masks shrinking balances and suspected scam activity amid its broader push into stablecoin payments. An Oct. 7 investigation by blockchain analytics firm Bitquery found that addresses matching scam patterns accounted for 58% of the net growth in Polygon's USDT0 holders since August 2025, raising questions about the quality of adoption figures promoted by the network. The findings challenge Polygon's recent celebration of surpassing 8.1 million USDT0 holder addresses, the highest among blockchains included in a Token Terminal comparison.

Source: CryptoSlate