Wednesday, October 27, 2021
HomeBlockchain NewsInvestors Say Lawsuits May Follow as Telegram Boss Concedes TON Defeat

Investors Say Lawsuits May Follow as Telegram Boss Concedes TON Defeat

Telegram and its owner Pavel Durov have officially sounded the death knell for the company’s Telegram Open Network (TON) blockchain platform and its Gram token. But investors and other experts claim that a slew of lawsuits may follow as the company attempts to appease investors who stumped up a combined USD 1.7 billion to fund the project.

Durov took to Telegram to post about his reasons for pulling the plug on the project, berating United States regulators and the American legal system, days after stating that the USA was one of the worst places in the world for tech entrepreneurs.

However, investors have already indicated that they could well take legal action against Durov and Telegram.

Per RIA Novosti, TON investor and Tokenbox project founder Vladimir Smerkis says that “most of the project’s investors want to file a lawsuit against Durov.”

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