Last week we wanted to inform our members about the upcoming Telegram ICO. Techcrunch reported that Telegram, cloud-based instant messaging service founded by Pavel Durov is planning to launch its own cryptocurrency in the form of an ICO, but something felt odd, especially since its founder Pavel Durov posted on Twitter (image below) that they publish all official announcements on their website. We decided to wait a while and research the whole thing. We soon realized that a website raising BTC and ETH in the name of Telegram was a scam and today we got our confirmation.
Telegram wouldn’t be the first chat app launching its own cryptocurrency. Last year we wrote about KIK; the company behind KIK Messenger launching its own cryptocurrency and raising nearly 100 million USD. Telegram has around 170 million users which are definitely an amazing asset when launching its own cryptocurrency.
Now based on numerous articles Telegram is raising as much as 1.2 billion USD (Read here), which would make it the biggest ICO ever – by far.
In 2017 the biggest ICOs (ICOs that raised the most fiat) were:
– Tezos; around 220 million USD raised
– Filecoin; around 200 million USD raised
– EOS; around 183 million USD raised
– Bancor; around 153 million USD raised
– KIK (KIN ICO); around 100 million USD raised
*at the time of raising
On the 10th of January Techcrunch published an article containing a lot of information from the Telegram ICO whitepaper. Read here.
Everything about this ICO is huge and it’s easy to be drawn into the frenzy. But the fact is that public sale is scheduled for March 2018. Only investors with 20 million USD or more and traditional venture capitalists will be able to take part in Pre-Sale (raising 600 million USD).
The company plans to raise a staggering $1.2 billion in total, starting with a $600 million pre-sale that’s strictly for traditional venture capital backers and those inside its executive’s close circles. That first stage is running from January to February by invite-only, according to the letters sent to selected participants that were viewed by TechCrunch.
Following the pre-sale, the firm plans to hold a public sale in March which will allow retail investors to enter. The public sale is pegged at $600 million, which would make the overall ICO worth $1.2 billion.
Jon Russell, Techcrunch
Why this is important is because there is a website pretending to be an official ICO website of Telegram ICO and it’s scamming people for a few days now already.
There is no official Telegram ICO website. Today we received a confirmation from the Telegram founder:
There are a lot of scams in the crypto world, only follow official blog posts, Twitter channels and make your decisions based on facts. If something doesn’t feel right, stay away from it.