Moscow Court Blocks Telegram Chat App After $1.7 Billion ICO

A Moscow court ordered telecommunications companies to block Telegram in Russia after the chat app refused to grant intelligence authorities access to users’ encrypted messages, in a blow to the company just weeks after it raised $1.7 billion from investors. The Virgin Islands-registered company has over 9.5 million users in Russia. Telegram said last month its total audience globally surpassed 200 million users, driven by attention for the world’s largest ICO, which raised funds to create a blockchain network that processes transactions many times faster, and has a built-in cryptocurrency for Telegram users.

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