It looks as if the Telegram blockchain project is about to hit another wall. According to a local Russian news site, at least 10 large investors are ready to ask for their funds back.

Telegram Blockchain Faces Further Problems

According to Yakov Barinsky, the head of Russian crypto investment firm Hash CIB cited in TASS, Telegram investors have had enough. He says that at least 10 major investors in the Telegram Open Network (TON) are now looking at asking for a refund. Barinsky stated:

What I see now among various investors is that many, at least 10 investors with whom I spoke, are inclined to take away 72% of the invested funds.

Investors in the Telegram blockchain project have been reasonably patient up until now. As the giant social media company locked horns with the SEC, they were previously granted two options.

They could either request a refund of 77% of the amount they invested or wait for a further six months for the tokens to be distributed. Investors initially chose the first option, meaning that the GRAM tokens would be released in April. However, it looks as if they’re steadily changing their minds.

The news comes after an injunction earlier this week by a…

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Author: Christina Comben


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