Latest news with #OpenNetwork
Time of India
22-07-2025
- Business
- Time of India
Telegram introduces built-in crypto wallet, bringing its users into mainstream blockchain
The Open Network (TON) is a decentralised, layer-1 blockchain platform developed by the Telegram team, led by the Durov brothers, to create a highly scalable and user-friendly blockchain ecosystem integrated with the Telegram app. Tired of too many ads? Remove Ads Global messaging giant Telegram has launched its integrated TON Wallet to its users, beginning the roll out for its US Open Network (TON) is a decentralised, layer-1 blockchain platform developed by the Telegram team, led by the Durov brothers, to create a highly scalable and user-friendly blockchain ecosystem integrated with the Telegram the new feature, American users can send, receive and manage cryptocurrencies, including Toncoin (TON), USDT, Bitcoin, and other tokens directly inside the Telegram app, without any additional downloads or browser makes Telegram the first mass-market social app in the US to offer a self-custodial crypto of the key features include instant peer-to-peer crypto transfers within Telegram chats, token swaps, staking and built-in trading tools, zero-fee crypto purchases via Apple Pay, Google Pay, or cards, and access to TON's expanding ecosystem of decentralised 'Mini Apps'.
Yahoo
10-06-2025
- Business
- Yahoo
TON Rises 4.1%, Suggesting Further Upside Potential
The Open Network (TON) cryptocurrency has demonstrated strong momentum, rising 4.1% in the last 24 hours, according to CoinDesk Research's technical analysis model. The price action formed a clear uptrend with higher lows and higher highs, breaking through key short-term resistance levels on high trading volume before consolidating near $3.35. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding exchange coins, memecoins and stablecoins — is up 3.7% in the same period of time. Technical Analysis • TON climbed from $3.20 to a peak of $3.39, representing a 6.03% increase. • Price formed a clear uptrend with higher lows and higher highs, culminating in a powerful breakout. • Trading volume spiked to 5.77M during the breakout, significantly above the 24-hour average. • Strong support established at $3.27, confirmed by multiple bounces with above-average volume. • Resistance at $3.33 was decisively broken on high volume, suggesting further upside potential. • Recent consolidation near $3.35 after the rally indicates profit-taking but maintains most gains. • In the last hour, TON experienced volatility with a 1.24% correction from $3.38 to $3.34. • Support emerged around $3.33, tested multiple times with decreasing volume. • Final trading period showed signs of consolidation between $3.34-$3.35, though with diminishing volume. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
03-06-2025
- Business
- TechCrunch
Indian grocery startup KiranaPro was hacked and its servers deleted, CEO confirms
Indian grocery delivery startup KiranaPro has been hacked and all its data has been wiped, the company's founder confirmed to TechCrunch. The destroyed data included the company's app code and its servers containing banks of sensitive customer information, including their names, mailing addresses, and payment details, KiranaPro co-founder and CEO Deepak Ravindran told TechCrunch. The company's app is online but cannot process orders, TechCrunch has found. Launched in December 2024, KiranaPro operates as a buyer app on the Indian government's Open Network for Digital Commerce, allowing customers to purchase groceries from their local shops and nearby supermarkets. KiranaPro has 55,000 customers, with 30,000-35,000 active buyers across 50 cities, who collectively place 2,000 orders daily, according to the company. Unlike a typical grocery delivery app, KiranaPro offers a voice-based interface that allows users to place orders from local shops using voice commands in languages such as Hindi, Tamil, Malayalam, and English. The startup planned to expand to 100 cities in the next 100 days before the incident happened, Ravindran said. On May 26, KiranaPro executives became aware of the incident while logging into their Amazon Web Services account. Hackers had gained access to KiranaPro's root accounts on AWS and GitHub, Ravindran told TechCrunch. Ravindran shared a couple of screenshots of the GitHub security logs and a file containing a sample of activity logs around the time of the incident, suggesting that the hacking happened after someone gained access to their systems via a former employee's account. KiranaPro's chief technology officer Saurav Kumar told TechCrunch that the hack happened around May 24-25. The startup said it used Google Authenticator for multi-factor authentication on its AWS account. Kumar told TechCrunch that the multi-factor code had changed when they tried to log into their AWS account last week, and all their Electric Compute Cloud (EC2) services, which let clients access virtual computers to run their applications, were deleted. 'We can only log in through the IAM [Identity and Access Management] account, through which we can see that the EC2 instances don't exist anymore, but we are not able to get any logs or anything because we don't have the root account,' he said. KiranaPro has reached out to GitHub's support team to help identify the hacker's IP addresses and other traces of the incident, said Ravindran. Similarly, Ravindran told TechCrunch that the startup is filing cases against its former employees, who he said had not submitted their credentials for accessing their GitHub accounts to check their logs. It is unclear how the attack happened. Some of the biggest cyberattacks in recent years, such as LastPass, Change Healthcare, and Snowflake, were caused by credential theft, such as through password-stealing malware installed on an employee's laptop, and missing or unenforced multi-factor authentication. The companies were ultimately responsible for enforcing the security of their own systems, including whether their employees must use multi-factor authentication, and terminating accounts of former employees who no longer work at their company. KiranaPro counts Blume Ventures, Unpopular Ventures, and Turbostart among its institutional venture backers, as well as Olympic medalist PV Sindhu and BCG MD Vikas Taneja among its angel investors. The company has a team of 15 employees located in Bengaluru and Kerala.
News18
27-05-2025
- Business
- News18
Why Is Uber Under Government Scrutiny For Charging ‘Advance Tips'? Explained
Last Updated: Legal experts say advance tips by Uber, Ola and Rapido appear 'coercive' as 'it does look like an unfair trade practice under the Consumer Protection Act of 2019' Uber, ride hailing app, has been under government scrutiny for allegedly charging passengers 'Advance Tips' for faster service. Pralhad Joshi, Union Minister for Consumer Affairs, called the service 'deeply concerning" on social media. 'Forcing or nudging users to pay a tip in advance, for faster service is unethical and exploitative. Such actions fall under unfair trade practices," the minister wrote. He stressed that the tip should be a token of appreciation given after the service completion, and not an entitlement beforehand. What Action Has Government Taken Against Uber? Joshi has directed the Central Consumer Protection Authority (CCPA) to investigate the matter. 'CCPA has issued a notice to Uber in this regard, seeking explanation from the platform," he posted. He said the CCPA is also investigating other ride-hailing apps, including Ola and Rapido. They will be served notices if found to be indulging in such practices. As of now, Uber has not publicly responded to the CCPA's notice. The outcome of this investigation could have significant implications for tipping practices and service models in India's ride-hailing industry. What Are Advance Tips? Uber's 'Advance Tip' feature in India allows passengers to add a tip for the driver before the ride begins, with the intention of incentivising drivers to accept ride requests more promptly. This feature aims to benefit both riders, by potentially reducing wait times, and drivers, by increasing their earnings. Namma Yatri, which is backed by the government initiative Open Network for Digital Commerce, was the first to start this feature in 2022. Rapido implemented it in 2023. And Uber announced it in November last year and implemented it in April 2025. Like Uber, Rapido urges users to increase the ride fare, saying the available drivers are not accepting a ride at the current price. Similarly, Ola also tells users that their chances of getting a ride more quickly may increase if they add a tip. As per legal experts, the practise appears 'coercive", as 'it does look like an unfair trade practice under the Consumer Protection Act of 2019." Under the Act, unfair methods employed to promote the sale of an item include false representations about its quality and quantity, among other things. How Companies Trick Consumers Uber's 'Advance Tips' issue also highlights 'dark patterns" used by companies to trick customers into buying the product or service. The CCPA issued guidelines in 2023, aimed at regulating and prohibiting such dark patterns. One such tactic listed in the guidelines is false urgency. It refers to falsely stating or implying a sense of urgency or scarcity to mislead a user into making an immediate purchase, or taking immediate action that may lead to a purchase. Last year, nearly 12,000 screens from 53 apps across nine industries were analysed by Advertising Standards Council of India, which identified an average of 2.7 deceptive patterns per app. It included apps like Ola, Uber and Rapido, and found that 32% of surveyed companies showed instances of false urgency, and 42% engaged in drip pricing. Why Is Government Scrutinising Such Companies? The CCPA under Consumer Protection Act, 2019 views advance tipping as coercive. It pressures consumers to pay extra for timely service, undermining the voluntary nature of tipping. Another practice employed by companies is drip pricing. Here, the prices of a product or service are not fully revealed. This practice feels like 'digital haggling," with commuters comparing it to street-side fare negotiations. The advance tips feature creates a perception that rides will not be accepted without a tip, especially during peak hours or bad weather. Some experts noted that consumers are 'held to ransom" to secure rides, with 84% of app taxi users facing cancellations when drivers dislike destinations or payment methods. Uber makes advance tips feature non-refundable, even if service is poor, exploiting a passenger. Social media backlash, as seen in posts on X, likens this to 'bribery" rather than tipping, with users feeling coerced to pay for basic service. Industry sources note that tips are exempt from the 5% GST applied to ride fares, allowing platforms to boost driver earnings without tax liability. This creates an unfair advantage for apps using a Software-as-a-Service (SaaS) model like Namma Yatri, prompting larger players like Uber to adopt the feature to stay competitive. The CCPA is probing whether this skirts tax regulations. Uber and Ola were issued CCPA notices in January for alleged differential pricing based on users' phone operating systems (iOS vs. Android), which both denied. The 'Uber Files' (2022) exposed earlier scrutiny from the Reserve Bank of India and tax authorities over tax liabilities (Rs 800 crore claimed by DGGI in 2024), highlighting a pattern of regulatory challenges. First Published:
Arabian Post
25-04-2025
- Business
- Arabian Post
TON to Discontinue Toncoin Bridge to Ethereum and BNB Smart Chain on May 10
The Open Network has announced that its Toncoin Bridge, facilitating transfers between the TON blockchain and Ethereum and BNB Smart Chain , will be permanently shut down on May 10, 2025. Post this date, users will no longer be able to bridge Toncoin from TON to these networks. However, assets already bridged will remain claimable. Bridging into TON will still be available temporarily, with a separate end date to be announced. The Toncoin Bridge has been a pivotal component in TON's cross-chain interoperability, enabling users to transfer assets between the TON blockchain and Ethereum and BSC. Its discontinuation marks a significant shift in TON's approach to cross-chain interactions. In anticipation of the bridge's shutdown, TON has been promoting alternative bridging solutions. These include platforms like Symbiosis, Layerswap, Rubic, and Retro Bridge, which offer support for a wide range of networks beyond Ethereum and BSC. These alternatives aim to provide users with continued access to cross-chain functionalities, albeit through different channels. The decision to discontinue the Toncoin Bridge comes amid broader strategic changes within the TON ecosystem. The TON Foundation recently appointed Maximilian Crown, co-founder of MoonPay, as its new CEO. This leadership change follows a $400 million investment from global venture capital firms, signaling a renewed focus on scaling blockchain adoption and integrating with Telegram's extensive user base. Market reactions to these developments have been measured. As of April 25, 2025, Toncoin is trading at approximately $3.25, with a market capitalization of around $8.15 billion. While this reflects a decline from its all-time high of $8.27 in 2024, the cryptocurrency has shown resilience amid the evolving landscape. Price Prediction 2025 – 2030 – 99Bitcoins) Arabian Post – Crypto News Network
