Last week, Russian media sources said that VKontake is considering developing its own cryptocurrency. On April 1, the company announced that it has launched a new "cryptocurrency mining application" on its platform to launch its own cryptocurrency VK Coin. However, VKontak did not tell VK Coin what kind of items it could buy, what value it had, and which platform to trade on. The app was developed by Happy Santa and most Happy Santa users think it's an April Fool's joke. As of now, VKontak has not commented on this matter.