Malformed link in only email performance report

We sent two emails which have same links and contents to different people.

Email 1 - to contact owner which we used token

Email 2 - to people who doesn't contact owner which we didn't use token to pop up contact owner

Both email sent in a single smart campaign using choice option.

But we noticed in Link performance report that all link in Email 2 are mentioned malformed links, but same links in other emails doesn't have this issue.

We also had targeted same audience before, but we didn't find this issue before. 

I heard from a post that  email program, anti-spam filter, or browser will mangle the token that identifies your lead. The token is the last piece of a Marketo email link, and can sometimes get cut off for length. When this happens, Marketo is not able to trace the unique lead that clicked the link, so our reports will display malformed link.

But if that is case why one email with same links doesn't have issue, we also targeted same audience before.