A Telegram user who purchased the @crypto username for $350,000 about 2.5 years ago has reportedly received a $25 million offer to sell it, a 70-fold increase in value.
The offer was publicized by the app’s founder, Pavel Durov, who on his personal Telegram channel, talked about the power of digital ownership secured by TON smart contracts, which enable such transactions without intermediaries.
Telegram usernames are more than monikers
Telegram usernames are unique because they are tokenized on the TON blockchain, as each username is a one-of-one that can not be replicated. The users are the sovereign owners, and there are no middlemen or possibility of confiscation, as they are all secured by TON smart contracts.
The perk has made them enticing to many, especially the holder of the now-famous username who recently said, “If these can’t be taken away from me, I want them all,” according to Durov’s post.
Durov tagged the offer as an example of what happens when people are allowed to have direct ownership of their digital assets. As far as he is concerned, Telegram is currently the only major social platform that allows its users to enjoy unalienable rights — including the unbreakable right to own their digital identities and assets.
The offer has made the username the most expensive one this year. Last year, the most priced username was @news, which was sold for $5.8 million, followed by @auto, which went for $5.2 million, according to reports.
The news has attracted attention to the TON ecosystem, which has enjoyed a solid month in terms of price action.
Telegram is still getting into legal trouble
While Telegram is being praised for the freedom it affords users, it also gets in trouble because that freedom often gets abused by bad actors.
In fact, Pavel Durov got called in again today by French authorities in the protracted lawsuit that started over accusations of complicity in criminal activity by managing a messaging app that allowed the sharing of illegal content, including child pornography, and illicit transactions. This is his third interrogation since he was charged with multiple violations in that regard.
Another unfortunate development has triggered outrage on Chinese social media, with related hashtags reaching over 270 million views on Weibo.
The scandal involves the unauthorized sharing of exploitative photos and videos of Chinese women on Telegram, and the main channel has at least 20 subgroups, with the largest group filled with up to 900,000 members.
The culprits allegedly recorded the footage without the women knowing, some in public restrooms, others with mini cameras in public places.
Those responsible could end up facing charges for producing, selling, and distributing obscene materials, as well as for illegally using devices for eavesdropping or secret photography.
However, prosecution is not going to be straightforward due to Telegram’s Russian ownership and the lack of stringent laws in China regarding the distribution of intimate images and secret filming.
UPDATE: A telegram spokesperson has reached out to Cryptopolitan to add the following comments; “Telegram has always abided by EU laws and has consistently processed all legally binding judicial requests from the EU,” and “non-consensual pornography is explicitly forbidden by Telegram’s terms of service and is removed whenever discovered.”
