Liquid Exchange Cancels Telegram’s Gram Tokens Sale
- Due to the delay in the launch of the TON mainnet, Liquid exchange has canceled its last year sale of Gram tokens.
- The funds from the sale have been returned to the investors who participated in the unofficial auction.
Japan-based Liquid exchange has cancelled its last year unofficial sale of the Telegram Open Network’s (TON) Gram tokens, the exchange said in a blog post dated 10 January.
According to the announcement, the sale was canceled due to the delay in the launch of the TON mainnet, which was postponed for 2020 due to the SEC’s investigation into the original Gram offering. The blog post further specifies that all funds were held in escrow, and that they have been returned to the participants in the unofficial token sale.
Liquid further said that its terms of sale stated that if TON failed to launch by 30 November 2019, all funds were to be returned to investors. At the time of the sale, in July last year, it was expected that the TON mainnet would be launched by 31 October 2019.
Originally announced in June last year, Liquid’s token sale was in no way connected with Telegram, with the tokens being sourced from Gram Asia, which claims to be one of the largest investors in Telegram’s $1.7 billion ICO, which was offering to sell the rights to the Gram tokens it holds.
According to the Ethereum wallet made public by Liquid, the exchange was able to collect at least $4 million in USDC, which were moved to Liquid’s hot wallet on 14 January.
The TON mainnet launch has been held up by a lawsuit brought by the U.S. Securities and Exchange Commission (SEC), which claims that the Gram token is in fact an unregistered security, and ordered the company to halt the launch. The U.S. regulators is set to meet Telegram in court on 18-19 February.
- Popular Telegram bot Unibot, which is used to snipe trades on Uniswap, became a victim of a token approval exploit earlier today, when it was switching to a new router.
- After confirming the exploit, Unibot assured users that their keys and wallets were safe, and that the project will compensate all affected users.
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