Recently, I've been looking at address profiling again, and the more I look, the more I feel it’s like a “half ID card”: useful, but don’t take it too seriously. Labels and clustering are essentially just grouping a bunch of behaviors into a persona; when faced with wash trading, frequent bridge transactions, and complex fund flows, no matter how beautiful the graph is, it can still be manipulated. A few days ago, I also saw someone complain that some on-chain data tools’ labeling systems are outdated or even misleading. I’m not surprised, after all, many annotations are added afterward and include subjective judgments.

For a moment, I really wanted to uninstall and remove a certain tool to avoid being influenced by “seemingly certain” conclusions… but after thinking calmly, tools are just mirrors; the key is not to be lazy myself: look at multiple paths, observe counterparties, analyze time series, even if it’s slower. Anyway, my current attitude towards labels is: use them as clues, not as evidence.