16:07 GMT +319 September 2018
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    Telegram Founder Launches Secret Second Presale of Homegrown Cryptocurrency

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    Earlier this week Pavel Durov, founder of Telegram and Russian social network Vkontakte, reported he had raised $850 million from 81 investors for the “development of the TON Blockchain, the development and maintenance of Telegram Messenger.”

    According to The Verge, referring to four sources familiar with the matter, investors received an email informing that Telegram was launching a second private presale of its cryptocurrency before it is offered to the public.

    READ MORE: Kaspersky Lab: Hackers Used Telegram Vulnerability to Deliver Mining Bots to PCs

    While the exact amount of envisaged gains remains unknown, two sources told the media outlet that Telegram expects it to be equivalent to the funds raised during the first round. Thus, the total raised would amount to over $1.6 billion before the initial coin offering (ICO) becomes public in March.

    Previously, Silicon Valley’s leading investors were said to have expressed interest in Telegram’s ICO, offering $20 million in investments.

    The company has purportedly been seeking to raise $1.2 billion to build a virtual economy within the app. It also intends to create its own blockchain-based payment platform, dubbed “the Telegram Open Network,” which will provide businesses with full access to its vast audience through advertising exchange and virtual storefronts, where its homegrown digital currency will be used for payments.

    Related:

    Kaspersky Lab: Hackers Used Telegram Vulnerability to Deliver Mining Bots to PCs
    Telegram May Enter Cryptocurrency Fray to Challenge Visa, MasterCard
    Top Silicon Valley Investors Eye Russia's Telegram Cryptocurrency - Reports
    Tags:
    blockchain technology, cryptocurrency, Telegram, Pavel Durov, Russia
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