At least 20 crypto executives and customers of an Israeli telecommunications company were targeted in a sophisticated SS7 attack last month.
Founded in 2013 by Pavel and Nikolai Durov, Telegram is a cloud-based encrypted messaging service with over 400 million users. Through its purported security and strict adherence to principles of censorship-resistance and privacy, the Telegram messenger app has become a popular choice for individuals seeking secure communication channels, much to the dismay of governments and regimes around the world.
The company made waves when it announced that it was building a blockchain and cryptocurrency system, called the Telegram Open Network, or TON. The project sought to address the scalability bottlenecks of existing blockchains and integrate TON into its 400-million-plus user base. In early 2018, the project raised $1.7 billion through several rounds of private sales in an initial coin offering.
As the largest crowdsale in the space to date, TON quickly caught the attention of the United States Securities and Exchange Commission. When the network was about to launch, the SEC halted the distribution of TON’s GRAM tokens to investors, citing the assets as an unregistered securities offering and questioning Telegram’s intent given that the Durov brothers had essentially been funding the platform without baking in any revenue model.
The TON codebase has since become open source, with other initiatives picking up the torch.
The SEC vs. Telegram case has vast implications for the future of cryptocurrency regulation moving forward.
The SEC's investigation into the crypto trading firm, which paid fines of $300,000 in July, apparently continues.7395
The desirability of applying U.S. law so broadly to transactions that occur predominantly outside the country.5713
Addressing the legitimacy of collapsing the sale of contractual rights with the eventual release of crypto assets.7209
The legal battle between the U.S. SEC and Telegram could be a strong warning against the SAFT process.6434
The app has helped Belarusians stay in touch during a communications blackout.5613
Telegram has dropped a two-year-old lawsuit over the ‘GRAM’ trademark but must now repay the defendant’s legal costs.11211
Sworn in for her second term today, SEC Commissioner Hester Peirce tells Cointelegraph about the commission’s work on crypto and new tech in investing.8988
“We are not selling Telegram – neither in part, nor in full,” Telegram CEO Pavel Durov promises.3812
The leaders of two tech giants are using nationalism to win back the governments of their respective home countries after stumbling over crypto launches.3896
As the official Telegram Open Network is being prepared to shut down on Aug. 1, global TON technology projects continue progressing.4803
Whale Alert’s crypto transactions are still available on its Telegram channel, but its Twitter profile has been hampered for the time being.3866
Telegram ceases its support of the test network for TON, but that will seemingly not deter the community from keeping the open-source project going.4117
Bitcoin has practically turned into a stablecoin, Dogecoin has experienced a huge resurgence in popularity, and Coinbase might be preparing to list on the stock market.25304
Crypto regulation in 2020: The U.S. tightens regulation of crypto, while India has finally allowed banks to get involved with firms.11196