According to data from TON Explorer, thirty million Toncoin (TON) were moved from The Open Network Foundation to Telegram’s wallet today, June 26. This was a significant event. Around $224.64 million worth of funds was sent all at once to the address “UQCMOX.”
According to records on the blockchain, this address has a balance of 213.48 million Toncoin, which is about $1.59 billion. The wallet is very busy because it can both receive and send money. It has a connection to Telegram, a chat app with almost a billion users, and is very close to the TON blockchain.
TON Foundation Enables Transfer
Based on past data, this address could be linked to Fragment, a Telegram-connected blockchain site for trading Telegram Premium subscriptions, anonymous numbers, and profile and channel IDs.
This transfer was made possible by the TON Foundation, a non-profit group whose mission is to support and grow the TON blockchain.
Because of how this transaction works, it’s not clear if it’s really a gift to Telegram. The Foundation and Telegram have not yet said anything about the move, which is worth almost $250 million.
