To Report Cryptonews, investors have invested a total of about $ 1.7 billion in the open telegram network (TON) and tokens. The project was halted after the US Securities and Exchange Commission intervened. This was shortly before the official launch of the Telegram digital currency project.
Dwarf then informed investors that they could receive 77% of their investment amount immediately or wait a year to receive their principal at a 10% interest rate. In April, those who chose the second option will be paid. In June 2020, Dwarf claimed that they had already paid more than $ 1.2 billion directly to investors in the form of a loan agreement.
But some investors’ patience is running out, according to a report on the Forbes Russia website, and many claim they have not yet received their funds.
The media quoted an unnamed source as saying that Dwarf had invested the money he had raised in the initial launch of Telegram:
Dwarf has raised $ 1.7 billion and apparently kept about $ 500 million. He must sell part of the telegram or the whole company and return the money to the investors; Because he spent this money on Telegram and not on Telegram’s open network.
It should be noted that the situation could be even worse for the dwarf. According to media reports, Pavel Cherkashin, chairman of Mindrock Capital, said several groups of investors were preparing to sue Dwarf. It is worth mentioning that this company has also invested in the Telegram project.
However, investors have told Russian Forbes that Dorf has high hopes of getting the desired result in court if a lawsuit is filed. Dorf hopes that investors will be warned of the potential risks before participating in the scheme. Investors were also informed that the raised capital would be used in the Telegram open network as well as to strengthen the Telegram brand.
In addition, some investors do not seem to have lost faith in Pavel Dorf. Dorf is the man who created the social network VKontakte in 2006, which can be considered the Russian version of Facebook. People like Sergei Solonin, the founder of Qiwi payment platform, are among those investors who have told Russian Forbes that they have agreed to lend to Dwarf.
The media also reported that other investors, who are expected to receive an initial capital plus 10% of their profits in April 2021, claim that Telegram has attracted new shareholders so that it can use its capital to pay off its debt. Another unnamed source said:
Dwarf has the opportunity to create a global ecosystem around Telegram, the project is not even halfway there.
Telegram recently claimed to be making money next year through advertising, but Dwarf claims that regular users can still enjoy the ad-free experience of Telegram.