TON plunges 5% amid reports of network outages

As per multiple reports, the TON ecosystem has been struggling to process transactions for a few days now.

The TON (TON) ecosystem is seemingly experiencing severe outages as the network’s users and projects took to X to express their concerns about the network’s malfunction. While the root cause of the issue remains unclear, some say the volume and transactions on the network jumped significantly recently, which might have resulted in multiple outages.

Crypto.news couldn’t immediately verify those reports. An X account for the TonRaffles crypto project confirmed the incident, without elaborating on the matter.

As of press time, TON made no public statements on the matter. Amid the news, the TON token plunged by nearly 5% down to $2.26, according to data from CoinGecko. According to TON Wallet’s statement on Telegram, withdrawals in TON are temporarily unavailable due to “abnormal load on the TON network.” The project noted that withdrawals of USDT and BTC work “without limitations.”