The outages were reportedly due to major interest in the newer memecoin
The Open Network (TON) has resumed operations following its second major outage in just 36 hours. The network went down yesterday at 7:17 P.M. UTC and was restored around 1:00 A.M. UTC today. The TON Community confirmed the network’s return to full functionality in their official Telegram group, assuring users that deposits and withdrawals to TON wallets would be processed in the coming hours and days.
This recent disruption lasted just over six hours, with the cause attributed to a surge in network activity linked to the launch of a new TON-based memecoin called Dogs (DOGS). This marks the second time in two days that the network was disrupted by DOGS-related activity.
The first outage occurred on August 27 at around 11:00 P.M. UTC, causing a six-hour block production halt. Both outages were attributed to the overwhelming demand created by DOGS, a memecoin that has quickly gained popularity on the TON blockchain.
Introduced in July 2024 and officially launched on August 27, DOGS has been heavily promoted as the “most Telegram-native memecoin.” Its popularity stems from its association with Spotty, the pet dog of Telegram’s founder and CEO, Pavel Durov, who was recently arrested in France. The token saw over $1.7 billion in trading volume within the first 10 hours of its launch, contributing to the congestion on the TON network.
Despite the network’s return to service, Toncoin has experienced significant volatility. While the coin’s value rose by 8% following the restoration of network functionality, it has still seen a 17% drop over the past week, largely due to the impact of Durov’s arrest on the market.
