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TON or Telegram Open Network is a darknet blockchain and cryptocurrency platform developed by the team of Pavel Durov. Telegram has been developing the platform since 2015, and its native cryptocurrency is called Gram. Telegram team says that the TON will be a decentralized platform for everyone, meaning that others will be able to contribute to its ecosystem.
Telegram and SEC Concluded a Settlement Agreement. Durov Will Pay a Fine of $18.5 Million and Return $1.22 Billion to TON Investors
On June 25, it became known that Telegram and the SEC entered into an agreement of lawsuit, under which Durov’s team would pay a fine of $18.5 million, and would also be obliged to return $1.22 billion to investors.
TON development team stops its active participation in the project for the reasons we wrote about earlier. The efforts of the team were redirected to other projects.
On May 12, Pavel Durov announced the closure of the Telegram Open Network (TON) project. That's why the lawyers of Telegram Group Inc. decided to withdraw a March appeal against a court order banning the sale of Gram.
Many investors did not believe that the TON project would start either this year or a year later, and they were right. Today, Pavel Durov officially announced that Telegram's active involvement with TON is over.
Investors of the TON blockchain platform are no longer sure that Durov will launch the platform, so TON Labs announced an analog of TON – Free TON.
TON investors have been receiving many letters from Durov’s team since April 30, but still have not received an exact answer whether the blockchain platform will ever be launched or not.
Pavel Durov Refused to Give the Gram to Investors in 2021 and Will Return the Money to American TON Investors
US investors received a new letter from the Telegram Open Network team, in which they are offered only one way out – to take back 72% of the investments.