Telegram CEO Pavel Durov Arrested in France, TON Price Drops Over 20%

Highlights:

• Toncoin’s price dropped over 20% following the arrest of Telegram’s CEO Pavel Durov.
• Charges include terrorism and fraud tied to Telegram’s inadequate content moderation.
• TON issued a statement assuring the community remains strong despite the recent legal turmoil.

Toncoin’s price plunged by over 20% after the arrest of 39-year-old Pavel Durov, the founder and CEO of the encrypted messaging app Telegram, in France. The Air Transport Gendarmerie (GTA) detained Durov, a dual French-Russian citizen, at Le Bourget airport around 8 PM on Saturday as he disembarked from his private jet, accompanied by a woman and a bodyguard. He had arrived at the airport, which exclusively services private jets, after traveling from Azerbaijan.

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Durov’s arrest was reportedly triggered by a French search warrant issued by the Office of the French National Judicial Police Directorate (OFMIN), an investigative agency that combats child sexual exploitation in France, following a preliminary investigation. The warrant was valid only within French territory, which enabled the arrest when Durov arrived in France from Azerbaijan.

JUST IN: 🇷🇺 🇫🇷 Telegram Founder and Russian national Pavel Durov has been arrested in France. pic.twitter.com/im8X8jqoN9

— BRICS News (@BRICSinfo) August 24, 2024

Durov’s Arrest Linked to Telegram’s Alleged Criminal Facilitation

According to French authorities, Durov was listed in the Wanted Persons File (FPR) due to serious allegations involving Telegram. Authorities believed that the platform’s features, such as its lack of content moderation, use of disposable numbers, and cryptocurrencies, facilitated illegal activities, including drug trafficking, child abuse, and fraud.

French investigators allege that Durov’s refusal to cooperate with law enforcement and his failure to moderate illegal content on Telegram made him complicit in these crimes. Sources close to the investigation revealed that Durov had been avoiding countries where Telegram was under scrutiny, instead favoring travel to regions such as the Emirates, former USSR countries, and South America.

Investigation and Custody

After his arrest, investigators from the National Anti-Fraud Office (ONAF) held Durov in custody, and he will appear before an investigating judge. He could face a range of charges, including terrorism, complicity, fraud, money laundering, drug trafficking, and involvement in child abuse content. French authorities consider pre-trial detention for Durov almost certain, given his substantial resources and the risk that he might flee.

An investigator from ONAF commented:

“Pavel Durov will end up in pre-trial detention, that’s certain…on his platform, he allowed countless offenses and crimes to be committed for which he does nothing to moderate or cooperate.”

TON Price Declines Over 20%

Durov’s arrest sent shockwaves through the crypto community, leading to a sharp drop in the price of TON, Telegram’s native cryptocurrency. As of the latest update, the cryptocurrency had dropped over 20%, trading at $5.36.

The uncertainty surrounding Durov’s legal issues and the potential crackdown on Telegram have heightened fears of increased regulatory scrutiny and instability. Meanwhile, TON issued an official statement on X but did not disclose any specific details about the investigation. TON assured the public on X that the TON community remains strong and fully operational despite the recent news involving Telegram’s founder. “As a community committed to freedom of speech and decentralization, we stand firmly by Pavel during this challenging time,” it added.

Statement from the TON Community

Following the recent news related to the Telegram’s founder Pavel Durov, we want to assure everyone that the TON community remains strong and fully operational.

As a community committed to freedom of speech and decentralization, we stand firmly…

— TON 💎 (@ton_blockchain) August 24, 2024

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