An unknown person created a fake United Kingdom company that appears to be the same as the Telegram crypto project.
A company named Telegram Open Network Limited was incorporated on Feb. 28, according to documents lodged with the British companies register, Companies House.
It names Telegram founder Pavel Durov as the company’s sole shareholder, director, and secretary. The firm claims £800 million (US$1.13 billion) in paid-up capital. It is easy to incorporate a company with fraudulent details in the British companies register. The registration process at Companies House relies on self-certification by the applicant and can be completed online for £12.
The revelation was debunked on Twitter shortly after the news surfaced. Telegram tweeted that Telegram Open Network Limited wasn’t connected to Durov and mentioned a number of red flags that raise suspicion in register document.
This entry is fake (https://t.co/vs6ZKJyiCG). Most likely a prank or scam, no such company was registered by Pavel.
— Telegram Messenger (@telegram) April 6, 2018
It lists Durov’s citizenship as British and base of operations in the UK. He is, in fact, a citizen of St. Kitts and Nevis.
The fact that the company lists £800 million in paid-up capital is another warning sign. Pumping this much capital into a British entity would immediately invite a hefty tax bill.
Messaging app Telegram has raised a record $1.7 billion in two rounds of iCO.
By Ksenia Batanova