Chinese investor buys Telegram username for $2 million

On February 7, an intense round of bidding took place for the Telegram username @danbao, with Chinese buyers competing throughout the day.

The winning bidder paid nearly $2.2 million, setting a new all-time record for username sales on Telegram’s Fragment marketplace, according to Durov’s Code. Fragment is a platform that allows users to purchase Telegram services using the TON blockchain.

• The same username was valued at $184,000 almost three years ago. Today, it sold for more than ten times that amount.
• The buyer is reportedly a Chinese collector known for holding large numbers of anonymous Telegram numbers and rare usernames, including casino-themed handles. He is also said to be close to Fuhao, a well-known Chinese investor in the TON ecosystem.
• Fuhao has drawn attention in recent months amid volatility in TON and the broader crypto market. On February 1, he unexpectedly became the owner of Telegram’s new “Verification 2.0” badge, which sparked controversy shortly after its launch. The username associated with that project had previously belonged to Dubai-based businessman Roman Novak, who was later killed. Fuhao has also spent heavily on digital assets, including $500,000 for the anonymous Telegram number +888 8 788.

The value of @danbao is tied to its meaning in Chinese, roughly translating to “collateral” or “guarantee.” The username has already been linked to a channel connected to a Chinese crypto wallet ecosystem and infrastructure for launching online casinos.

The previous record for a Telegram username sale was set in 2022, when @news was purchased for $1.7 million.