The encrypted social application Telegram has raised a lot of money through ICO and plans to launch its cryptocurrency "Gram". The Telegram open source network is said to be launched on October 31, but the unreleased Gram token is currently being traded in an unauthorized secondary market. Telegram has not publicly or formally recognized the project, but investors who participated in the $1.7 billion token issue last year are selling their Gram quotas through an over-the-counter trading platform and exchange. Investors warned that buying tokens in this way may be risky because Telegram explicitly prohibits investors from reselling their tokens in the event of a termination of the purchase contract. Buyers in the secondary market may end up with nothing. It is reported that Telegram is the first big project that legally prohibits investors from selling token quotas. Previous news: The purchase agreement for Telegram's Gram token shows that if the Telegram Open Network (TON) does not start before October 31, 2019, Telegram's Gram token purchase agreement will be terminated.