"The TON network is fully operational! Withdrawals and wallet deposits to TON-based assets will be available in due course," the TON community Telegram channel said in a post just after 9:30 a.m. Hong Kong time on Thursday.
The outage lasted more than four hours. TON blamed the outage on "heavy load due to the minting of DOGS tokens."
Wednesday's outage was the second in two days. The network went down Tuesday afternoon U.S. time but was back up after midnight. Observers first blamed the outage on DOGS, then TON confirmed it after the network crashed again.
Toncoin, the native token of the TON protocol, rose about 8% on the news, according to CoinDesk Indices.
The token is still trading below the price it was trading before Telegram CEO Pavel Durov was arrested.
While Telegram and TON are legally separate entities, the two are closely related and interdependent.
Durov was indicted in a French court on Wednesday local time on charges including illegal transactions and child exploitation on the platform, failure to cooperate with the police, and providing uncontrolled crypto services. Durov was recently arrested near Paris.
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Observation: #Dogs Empty TON BTC ETH NOT...
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