Liquid Crypto Exchange Returns Money to Users Who Bought Gram

On July 10, 2019, Liquid cryptocurrency exchange began limited procedures for placing Gram tokens on the exchange. On January 15, 2020, Liquid announced a decision to return money to users who invested in cryptocurrency that has not been released yet.

Users who bought Gram tokens on the Liquid cryptocurrency exchange received an e-mail. The e-mail states that the sale of the Telegram cryptocurrency has been canceled. The site assured that all funds stored in the Liquid guarantee deposit were returned to users who participated in the initial exchange offer.

On July 10, Liquid conducted limited procedures for placing tokens on the exchange. It was a limited offer that was available until the expected opening of sales in October – the launch dates for TON and Gram were postponed, so the plans for crypto exchanges began to change.

Liquid attracted investments in a total of $1 billion but did not directly make any deals with Pavel Durov’s company. The exchange agreed to transfer a certain number of conditional tokens belonging to the South Korean organization called Gram Asia.

Customers went through KYC procedures. They purchased the unreleased Gram cryptocurrency, which was stored in USDC – a stable coin supported by Coinbase. Fedor Skuratov, the head of communications at TON Labs, stated that such a partial launch of token sales through Liquid is an ordinary PR campaign.