TON price hits new all-time high even as Telegram is flagged high risk by security firm

(This story was corrected on April 10 at 00:48 GMT to reflect that a spokesperson from Telegram said that they can't confirm that a vulnerability in the platform exists, and that they consider CertiK's video a hoax. While Telegram didn't explicitly deny CertiK's claims, the blockchain security firm has deleted its tweet. The corrected version follows.)

TON price hit a new record high of $7.12 on OKX on Tuesday.
Toncoin now ranks among top 10 cryptocurrencies by market capitalization, replacing Cardano on CoinGecko.
Telegram said the viral video from Blockchain security firm CertiK, which flagged Telegram for high risk vulnerabilities, "is likely a hoax."

Toncoin, the native token of Layer 1 decentralized computer network, hit a new all-time high early on Tuesday. TON price climbed to $7.12 on OKX, hitting a new record.

Blockchain security firm CertiK said in a tweet on Tuesday that Telegram has high-risk vulnerabilities and asked users to check their configurations. Telegram said in its official X account that they can't confirm such a vulnerability, while CertiK's message and accompanying video was deleted on Wednesday.

TON price breaks record high

TON price climbed to $7.12 on Tuesday, and the asset’s market capitalization crossed $23.8 billion. The asset now ranks in the top 10 cryptocurrencies by market cap, while Cardano drops out of the league.

TON price has been linked with the social messaging platform Telegram. Developments surrounding the messaging app have influenced the asset’s price in the past.

Blockchain security firm CertiK said it had observed a high-risk vulnerability in the social messaging app and asked users to check their configuration to improve security. The risk was detected in Telegram's media processing in the Telegram Desktop application. Users are at risk of malicious attacks through specially crafted media files, such as images or videos, and the firm asked users to disable the auto-download feature. However, a spokesperson from Telegram said these allegations can't be confirmed and warned users of a hoax. After Telegram's answer, CertiK's initial message was deleted.

#CertiKInsight ⚠️
We see a high-risk vulnerability in the wild,
Please check your telegram configurations to improve security!

Possible RCE was detected in Telegram's media processing in Telegram Desktop application.
This issue expose users to malicious attacks through…
— CertiK Alert (@CertiKAlert) April 9, 2024

TON price has rallied 8% in the last 24 hours and 28% in the last seven days. The native token of The Open Network has been in an uptrend since February 28, forming higher highs and higher lows, hitting a record high on Tuesday, at $7.12.

TON/USDT 1-day chart

(This story was corrected on April 10 at 00:48 GMT to remove a reference which described Pavel Durov as the owner of Toncoin.)

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