Lately I've been messing around with address profiling, tags, and clustering. The more I use it, the more I feel: it can be referenced, but shouldn't be treated as an "ID card." It's normal for one person to have multiple addresses, but conversely, a bunch of addresses can also be algorithmically grouped into "similar funds," which looks like smart money, but might just be passing through the same route.

Now I trust more in the "actions" of fund flows: entering and exiting exchanges, cross-chain bridges, contract interactions frequency—these at least make sense. As for tags, they're okay for filtering and alerts, but don’t jump to conclusions at the sight of "fund/making markets"... Especially with all the recent noise about privacy coins and mixing, some people immediately give addresses a death sentence upon hearing "mixing," which is pretty crude, to be honest. Anyway, I prefer to look two hops further, draw fewer conclusions, and keep my risk control in check first.