TON Partners With Elliptic for Ecosystem Security

TON Foundation Enlists The Support Of Elliptic To Provide Ecosystem Analysis And Security

TON Foundation partners with Elliptic, a top blockchain analysis firm, to enhance data intelligence and ecosystem security

Hoan-My

Published on Oct 16, 2023

2 min read

TON Foundation Enlists The Support Of Elliptic To Provide Ecosystem Analysis And Security

Zug, Switzerland, October 13th, 2023, Chainwire

Today, the Open Network (TON) Foundation announced the support of Elliptic, a leading blockchain analysis firm, to provide the network with data intelligence and additional ecosystem security, supporting TON Foundation's 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 growing by 165%. The collaboration will protect users across TON's ecosystem 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 allowing billions of people to own their digital identity, data, and assets. See more at https://ton.org.

About Elliptic

Elliptic is the global crypto asset risk management leader 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.