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TON investor tried to get $280,000 but ends up owing $700,000

TON investor tried to get $280,000 but ends up owing $700,000

Igor Chuprin, the founder of Zotobi Management Limited, claimed that Telegram should return him 100% of its TON investment. The complainant applied to the London court, but the judge sided with Telegram founder Pavel Durov. Now Chuprin, who sued for $280,000, must settle Telegram's costs worth $700,000.

Why It Matters:

  • Investing in crypto projects is a high-risk activity. Ignorance is not a reason to get your investment back through a court of law. 

According to Forbes, in February 2022, a London international arbitration court dismissed a mobile app developer's lawsuit against Telegram Group Inc. and TON Issuer Inc. for $280,000 worth of compensation. In 2018, the CEO and owner of Dubai-based Zotobi Management Limited, Igor Chuprin, invested $1 million in Pavel Durov's cryptocurrency TON and sued the messenger in May 2020, two weeks after the project shut down. The court dismissed all of Zotobi's claims while also charging the company to cover $700,000 in legal costs for Telegram and £55,944 in court costs. The hearing took place in the fall of 2021: between October 4 and 6, Durov, Chuprin, and Telegram Vice President Ilya Perekopsky testified via video conference in court. The reason for denying the claim was that the investor was aware of the possible risks of investing in cryptocurrency. 

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