Telegram blockchain experiences hours of network outages

First the Telegram founder was arrested, and now Toncoin is also down for several hours. The cause: a memecoin.

Toncoin fell out for about six hours this night, on August 28, 2024. This is reported by several media outlets.

The reason: too much traffic caused by memecoin.

Crypto exchanges such as ByBit and Binance temporarily halted all entries and payouts from Ton.
The memecoin responsible is called Dogs. It was already launched on Aug. 26, 2024, and partially distributed via airdrop.

Toncoin is Telegram's unofficial blockchain. It was launched by the messaging service in 2019, discontinued after a conflict with the U.S. financial regulator, and then further developed and re-released by the community.

Network failures are a regular occurrence in the crypto world, with Solana as the most famous example.
Telegram is currently under fire. Its founder, Pavel Durov, Is in detention in France. He risks up to 20 years in prison.

Toncoin is currently one of the most successful cryptocurrencies in the world. Over the course of the year, the coin rose 400 percent.

TON is currently listed at $5.35 with a market capitalization of $13.53 billion.