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Following the news that Pavel Durov, the creator and CEO of Telegram, had been arrested in France, the price of tonnecoin fell by more than sixteen percent. Durov, a dual citizen of France and Russia, was captured on Saturday night at Le Bourget airport.
The price of Ton coin drops after the founder of Telegram is arrested.
Pavel Durov was detained as he got off his private jet at Le Bourget airport, according to the French news outlet TF1. The arrest occurred at approximately 8 PM. When he was arrested, a woman and his bodyguard were with him.
According to reports, this request was obtained as a part of an ongoing investigation into Durov's suspected involvement in illegal activity related to the running of his Telegram platform. The accusations are grave and cover a wide range of crimes, including fraud, terrorism, drug trafficking, and the dissemination of illicit materials, particularly content that involves the exploitation of children.
Investigation and Custody
The founder of Telegram was taken into police custody after being apprehended by agents from the Customs Directorate's National Anti-Fraud Office (ONAF). He will therefore probably appear before an investigative judge, which could result in a multi-count indictment.
Authorities are also concerned about Durov's possible ability to flee due to the seriousness of the charges against him and his considerable financial resources. As a result, the investigation is said to be focused on Telegram's apparent role in supporting several illicit activities as well as the platform's apparent lack of moderation.
As a result, investigators contend that Pavel Durov's actions—or lack thereof—have turned the platform into a safe haven for organized crime, which includes pedophilia, drug trafficking, and terrorism. As a result, this arrest is considered as a component of a larger initiative by European authorities to target secure messaging platforms that they contend are being used to support illicit activity.
The price of TONs decreases More than 15%
The price of Toncoin has dropped significantly following Durov's detention. The price of the cryptocurrency was $5.66 at the time of publishing, a decrease of more than 17%. Given how intimately Toncoin is linked to the Telegram ecosystem, investor trust has undoubtedly been shaken by the legal issues surrounding its inventor.
However, given the waning confidence for the price of TONs, this decrease has caught us off guard. The price of Toncoin was expected to rise in a CoinGape study due to new initiatives that would draw investors; nevertheless, this change has caused it to drop to a two-week low.
The significant drop in Toncoin's value is a reflection of market skepticism about Telegram's and its related projects' prospects. Investors are probably worried about the platform and its associated assets' possible legal and regulatory consequences in the event that Durov's charges result in serious legal action.