The Polygon core team consists of four co-founders - Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. The board of advisors includes notorious DeFi experts such as Ryan Sean Adams, Ethereum Foundation’s Hudson Jameson, Anthony Sassano, Coinbase’s Pete Kim, and John Lilic, who has previously worked at Consensys as the managing director for Global Business Technology Development, Strategy, and Operations. The MATIC Network company is registered in Singapore. Polygon's commit chain has been criticized for its lack of decentralization more than once. For example, in early 2021, Nansen AI found that 55% of all staked MATICs, which should secure the network, were staked by two actors - the Binance and Polygon teams. In early December 2021, two whitehat hackers discovered a bug in the network's proof-of-stake Genesis contract. A critical code vulnerability discovered using the Immunefi protocol allowed a malicious hacker to steal 801,601 MATICs, which was equal to $2.04M at the time. The team's decisive actions to deploy the Emergency Bor Upgrade on December 5,  within 24 hours of the bug discovery, allowed them to save over 9.27 billion MATICs, which at the time of the events was $23.6B and represents nearly the entire max supply of the coin. The problem discovered on December 3 and 4 was not disclosed until December 30, the Polygon team resorted to closed-door solutions, adhering to the "silent patches" policy introduced by the Go Ethereum team in November 2020. On March 11, 2022, Polygon faced a nearly 12-hour downtime during an attempt by the project’s developers to fix a congestion issue faced by the network. After deploying an upgrade that apparently affected the network’s consensus mechanism in a negative manner, the team started to suspect there had been a bug in the code that affected consensus and caused different Heimdall validators to be on a different version of the chain, although the update was not supposed to alter this part of the code but was targeted to adjust the state sync mechanism. Due to this, the system couldn’t reach 2/3 consensus. However, since the different layers of the Polygon chain depend on each other, the Bor chain relies on Heimdall regarding the block proposer committee selection, more precisely the span creation. This means that once the last span that Heimdall affects passes, the Bor chain halts. Nevertheless, the developer team made sure to ease users and claimed there are no security or safety issues and all user funds are safe. The team deployed a temporary hotfix to unclog the Bor chain and resume producing blocks. The temporary solution terminated the Polygon Bridge for the time until the final solution was deployed. Polygon was audited by Nomic Labs in May 2019, Quantstamp in March 2020, Certik in February 2021, and Certik in April 2021.