In late February of this year, Telegram Open Network Limited was registered in Britain as Pavel Durov, who was behind Telegram. Telegram is a successful conversation application, with 200 million monthly users, as well as a popular platform among ICOs and investors to interact with each other.
The open Telegram network, through its new digital currency project, has so far raised $ 1.7 billion in funding to sell its primary digital currency. The company plans to provide a variety of services, such as file storage, private digital networks and encrypted browsing platforms, as well as services for decentralized applications and decentralized browsing, as well as small payments and direct payment capabilities.
However, it is not the case at all. In fact, this new money transfer project was created away from the actual project, and if it was not discovered, it would certainly work. A tweet on Twitter revealed that the project was not at all related to the official project.
British investors began questioning the project's validity after the company claimed it had $ 1.13 billion in capital. When further investigation was found, the new project was listed as a director, founder and secretary-general, and was listed as a British citizen while in fact a citizen of Saint Kitts and Nevis.
Applicants are expected to authenticate their personal details, which means that fraudsters can easily create a fraudulent company, which is unfortunately commonplace in the digital currency market.
Initial currency support was raised to $ 850 million last week, above the $ 850 million raised in February. A number of investors have benefited by turning their primary digital currencies before the sale becomes public. There is no doubt that the ICO market is booming, so with this in mind, it's easy to see how they fooled their investors.
So much fraudulent activity in this market unfortunately...we deserve the regulation we'll get
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