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Grams wallet rules published on Telegram website: account can be disabled for any reason

Restore it also does not work.

The Telegram website published the rules for using the Grams Wallet cryptocurrency wallet. The company noted that it is associated with TON, but clarified that it does not control the blockchain platform. The update date for the rules is October 8th.

  • The wallet will be available in a separate application and inside Telegram. Only persons over 18 years of age will be able to use it, unless the law prohibits them. The wallet is also banned for persons who are under sanctions or live in the country to which they are imposed;
  • If you lose access to the wallet, the administration will not be able to restore the account. The company also does not collect personal information necessary for identification: backup phrases, passwords, public and private keys;
  • The company and its employees have declined responsibility for any user losses in excess of $ 10, as well as for any lost “grams” and funds in other currencies;
  • The company may at any time and for any reason suspend or disable the user account;
  • All wallet transactions will be checked and recorded on the blockchain. The company also denies control over the TON blockchain. Telegram does not guarantee that transaction details will be verified and confirmed on the blockchain;
  • A commission may be imposed on the operation in TON, but the company also does not control its size and type. The company indicated that the user is responsible for paying taxes;
  • The rules indicate that third parties will be able to provide their services and content related to the wallet. But Telegram will not be liable for losses and damage, they said that “the use of the TON blockchain is carried out at your own peril and risk.”

On September 24, Telegram first officially mentioned the TON blockchain platform, which has been discussed since the end of 2017. The company promised investors to start before October 31, otherwise it is required to return the invested money

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