October 13th, 2023 at 2:29 pm UTC · 2 min read
The Open Network (TON) Foundation has today announced the support of Elliptic, a leading blockchain analysis firm, to provide the network with data intelligence and additional ecosystem security, supporting TON Foundation with its goal of putting crypto in every pocket by building a web3 ecosystem in Telegram.
Elliptic will screen all TON wallet addresses and flag those associated with bad actors, helping to prevent the exposure of TON users and projects to these accounts. Elliptic will also promote Toncoin to have it listed on reputable exchanges. This will provide greater visibility and security to the ecosystem as TON Foundation expands the range of on-ramps available for new users to enter TON’s ecosystem and experience true asset ownership.
This latest step follows the announcement of TON Foundation’s collaboration with Telegram providing the infrastructure for the messenger’s growing Web3 app ecosystem. TON’s community has grown rapidly over the past year, with the number of registered accounts on TON having grown by 165%. The collaboration will ensure that users across TON’s ecosystem are protected from accounts associated with illicit or malicious activities.
Justin Hyun, Director of Growth at TON Foundation, said:
“Elliptic’s support will ensure that TON’s ecosystem remains secure as it continues to scale at pace, with users protected from malicious or criminal activity.”
The Open Network Foundation (TON Foundation) is a non-profit organization founded in Switzerland in 2023. TON Foundation is 100% funded by the community, acting in the community’s interests, and supports initiatives aligned with The Open Network’s mission.
The Open Network (TON) is putting crypto in every pocket. By building a Web3 ecosystem in Telegram Messenger, TON is giving billions of people the opportunity to own their digital identity, data, and assets.
Elliptic is the global leader in cryptoasset risk management for crypto businesses, governments and financial institutions worldwide.
Recognized as a WEF Technology Pioneer and backed by investors including J.P. Morgan, Wells Fargo Strategic Capital, SBI Group, and Santander Innoventures, Elliptic has assessed risk on transactions worth several trillion dollars, uncovering activities related to money laundering, terrorist fundraising, fraud and other financial crimes.
Elliptic is headquartered in London with offices in New York, Singapore, and Tokyo.
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