TONCommunity.org, one of the multiple spin-offs of Telegram’s unlaunched blockchain network, has announced that its tetsnet is now live. After announcing plans for a separate TON network in late May, TONCommunity.org launched the testnet on July 28, the project’s founder Tooz Wu told Cointelegraph. Official TON testnet to shut down by Aug. 1 Alongside the testnet launch, TONCommunity.org is holding an airdrop of mainnet tokens, known as “TONcoins.” The latest airdrop is available for all Telegram users and features 10 million TONcoins, Wu said. Dubbed “testnet3,” the Chinese TON Community’s testnet poses itself as a continuation of the official TON …

At the start of July, Telegram announced it was discontinuing its support for the test network of Telegram Open Network in what seems as yet another — possibly the last — sign that the company is leaving its blockchain project for good. Telegram chose to abandon TON as a result of a drawn-out legal battle with the United States Securities and Exchange Commission, which apparently was close to convincing the court that TON’s private $1.7 billion initial public offering was an unregistered securities sale. So, does the latest development mean that TON is dead? Developers of independent TON-based projects don’t …

Although Telegram has terminated its blockchain project, Telegram Open Network (TON), in May 2020, the TON test net has been apparently running for almost one year. In a July 6 update, the official TON development group on Telegram announced that it would be discontinuing its support of the test network for TON. Remaining TON validators will be turned off by August 1. In the post, the TON official recommended network participants save all their relevant data and stop their testing processes. Despite the testnet being set to shut down less than a month from now, network participants will still be …

Shortly after lifting the country’s Telegram ban, Russian authorities began investigating potentially fraudulent offerings involving the company’s unlaunched token, Gram. The token was at one time meant to serve a new blockchain ecosystem known as the Telegram Open Network, or TON. Reports indicate that Russian prosecutors are set to investigate a British firm that allegedly sold fraudulent tokens related to Telegram’s terminated blockchain project. The news was reported on July 3 by the local news agency, Baza.io. According to the report, the action was brought to a local investigative committee by “several Russian entrepreneurs” that claimed to have purchased $11.7 …

Telegram, the creator of the failed Gram (GRM) token and the Telegram Open Network, or TON, was well into investor reimbursement weeks before a court in the United States ruled that the firm had to return $1.2 billion. A U.S.-based TON investor tells Cointelegraph that he got his 72% refund from Telegram in late May 2020. According to a bank statement seen by Cointelegraph, the investor received $7.2 million out of the original $10 million investment through a wire transfer. Telegram CEO says that the firm has repaid over $1.2 billion already The investor’s statement backs up Telegram’s recent announcement …

The United States’s Securities and Exchange Commission, or SEC, has filed a proposal for final court judgement in regard of the terminated Telegram Open Network project. In a proposed final judgment filed on June 25, the SEC has asked the New York Southern District Court to order million dollar penalties to multiple defendants related to the case. “Defendants are jointly and severally liable for disgorgement of $1,224,000,000,” the SEC wrote in the proposed judgement. As of press time, the judgement has been received by the court. Although the court has “reviewed and approved as to form” the proposed judgment, it …

Telegram’s terminated blockchain project, Telegram Open Network, or TON, keeps spawning new community-led TON networks. While there are at least two global TON-based initiatives so far, namely Free TON and NewTON, the Chinese TON Community has opted to launch their own TON network. In a May 29 blog post, the Chinese TON Community voiced its intention to launch a separate TON-based network. The new effort comes in response to Telegram CEO Pavel Durov officially shutting down the firm’s involvement in the project, the post notes. Blockchain testnet is a first step The community plans to launch their own TON blockchain …

Pavel Durov, founder and CEO of popular messaging app Telegram, has purportedly resumed his charity activity soon after terminating Telegram’s blockchain project. Known for philanthropic activity, including a $1 million donation to Wikipedia, Durov has donated 10 bitcoins (BTC) to a charity project in Russia. The coins are worth around $96,000 at time of publication. Donation will help people facing financial difficulties due to coronavirus The new donation intends to support a project backed by political activist, Yegor Zhukov — who established himself as a symbol of anti-Kremlin protests. The donated Bitcoin will be spent to help people facing financial …

TON once stood for “Telegram Open Network,” but has changed its name to reflect the messaging giant’s departure from the blockchain project. The project will simply be known as “The Open Network” going forward. Telegram officially terminated its involvement in Telegram Open Network in mid-May 2020. Although Telegram’s version of TON is no longer moving forward, it has given rise to other projects like Free TON and NewTON. The name change was planned from the beginning TON’s white paper revealed that the project’s name has two different meanings — “Telegram Open Network,” and “The Open Network”. Revealed in early 2018, …

Telegram has withdrawn its appeal against a United States federal court’s injunction that froze Gram token issuance and distribution, according to court documents dated May 22. The move seems to suggest that the company has fully abandoned its TON plans. Earlier this month, Telegram CEO Pavel Durov announced their “active involvement” with the project was over, criticizing U.S. regulators for overextending their power. Announced in 2017, Telegram’s TON is a blockchain platform aimed at facilitating payments via Gram tokens and hosting decentralized applications at high scalability levels. After it raised almost $1.7 billion in two private token sale rounds next …

Free TON, a decentralized blockchain network derived from Telegram’s TON blockchain, is launching the first community contests to power its network. Starting Monday, users, developers and validators are invited to participate in three separate contests, with Free TON planning to distribute thousands of TON Crystals, or Tons, as rewards. On Monday, the Free TON Community officially introduced proposals for the first community contests on the Free TON forum. Each contest aims to distribute at least 50,000 Tons among winners, participants and juries. The three contests are expected to close on May 25. Free TON contests are the only way to …

On May 12, Telegram officially terminated its involvement in its planned blockchain project, the Telegram Open Network, and its corresponding GRAM token. Apparently ending its long-running legal battle with the United States’ regulators, Telegram still needs to sort out $1.7 billion raised in an initial coin offering, or ICO, in 2018. Prior to abandoning the troubled TON project, Telegram CEO and founder Pavel Durov introduced a reimbursement scheme, offering TON investors two choices — immediate 72% refund, or a 110% refund in 12 months. Major $70 million investor is preparing to quit with 72% According to a May 16 report …