TON Foundation enlists Elliptic for ecosystem analysis and security

Zug, Switzerland, Oct. 13, 2023, Chainwire

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 over the past year, with the number of registered accounts on TON rising by 165%.

The collaboration will ensure that users across TON’s ecosystem are protected from accounts associated with illicit or malicious activities. 

“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,” said Justin Hyun, director of growth at TON Foundation.

About TON Foundation

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. Learn more at https://ton.foundation.

About The Open Network (TON)

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. See more at https://ton.org.

About Elliptic

Elliptic offers cryptoasset risk management services 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. To learn more, visit www.elliptic.co.

Contact

TON Foundation
[email protected]