Telegram founder Pavel Durov arrested in France, TON price drops 16% Telegram founder Pavel Durov arrested in France, TON price drops 16%
TON cryptocurrency sees a sharp 16% decline following Telegram founder's arrest.
2 min read
Updated: Aug. 25, 2024 at 12:21 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Pavel Durov, the 39-year-old founder and CEO of the encrypted messaging app Telegram, was arrested around 8 PM on Saturday at Le Bourget airport in France. Durov, a French-Russian national, was detained by the Air Transport Gendarmerie (GTA) upon disembarking from his private jet. He was accompanied by a bodyguard and a woman.
Durov’s arrest was triggered by a French search warrant issued by the Office of the French National Judicial Police Directorate (OFMIN), based on a preliminary investigation. The warrant was valid only on French territory, making this arrest possible as Durov landed in France from Azerbaijan.
Legal troubles: Why Durov was wanted
According to French authorities, Durov was listed in the Wanted Persons File (FPR) due to serious allegations against Telegram. The platform’s features, including its lack of content moderation, use of disposable numbers, and cryptocurrencies, are believed to have facilitated illegal activities such as drug trafficking, child abuse crimes, and fraud.
French investigators claim that Durov’s refusal to cooperate with law enforcement and his failure to moderate illicit content on Telegram made him an accomplice to these crimes. Sources close to the investigation indicated that Durov had been avoiding countries where Telegram was under surveillance, preferring to travel to regions like the Emirates, former USSR countries, and South America.
Potential charges and legal consequences
Following his arrest, Durov was placed in custody by investigators from the National Anti-Fraud Office (ONAF) and is expected to appear before an investigating judge. He could face a multitude of charges, including terrorism, drug trafficking, complicity, fraud, money laundering, and involvement in child abuse content.
French authorities believe Durov’s pre-trial detention is almost certain, given his significant resources and the risk of him fleeing. An investigator commented:
“On his platform, he allowed countless offenses and crimes to be committed for which he does nothing to moderate or cooperate.”
Impact on TON’s price
The arrest of Pavel Durov has sent shockwaves through the crypto community, leading to a significant drop in the price of TON, Telegram’s native cryptocurrency. Within an hour of the news breaking, TON’s price plummeted by 16%, reflecting investor concerns over the future of Telegram and its associated projects.
The uncertainty surrounding Durov’s legal battle and the potential crackdown on Telegram have raised fears of increased regulatory scrutiny and instability.
A Global Signal: France’s stance on digital privacy and crime
Durov’s arrest signals France’s strong stance on digital privacy and its crackdown on platforms perceived to be facilitating criminal activities. The case has international implications, as it highlights the tension between free speech and the need to combat illegal online activities.
This crackdown is likely to resonate globally, pressuring other countries to enforce stricter regulations on encrypted messaging apps like Telegram. The unfolding legal battle will be closely watched, not only for its impact on Durov and Telegram but also for its broader implications on digital privacy and security worldwide.
Toncoin Market Data
At the time of press 12:21 am UTC on Aug. 25, 2024, Toncoin is ranked #9 by market cap and the price is down 15.5% over the past 24 hours. Toncoin has a market capitalization of $14.41 billion with a 24-hour trading volume of $1.18 billion. Learn more about Toncoin ›
Crypto Market Summary
At the time of press 12:21 am UTC on Aug. 25, 2024, the total crypto market is valued at at $2.26 trillion with a 24-hour volume of $60 billion. Bitcoin dominance is currently at 55.98%. Learn more about the crypto market ›
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TON is a third-generation proof-of-stake blockchain designed in 2018 by the Durov brothers, the founders of Telegram Messenger.
Pavel Durov is the CEO and founder of Telegram, a messaging platform focused on privacy and security.