TON token down as Telegram CEO gets arrested
Telegram CEO, Pavel Durov was arrested yesterday in France and as a result, the TON token is down quite a lot, more than 15 percent at time of writing.
Durov was going to France via private jet and was stopped by OFMIN, a French agency on all sorts of bad causes that we cannot mention here.
Right now, Pavel Durov is still in custody. The officials at OFMIN say his platform has been involved in myriad heinous crimes.
TON down 17% as its founder got arrested in France. #telegram #ton #bitcoin pic.twitter.com/oHb7etRh5z
— Authority Capital (@emphatic) August 25, 2024
It had a massive impact on the TON token, taking it down as much 17%. It is even being rumored that the Pavel could face upto 20 years in prison.
Popular online figure, Balaji says it is another battle between network and state. On other hand, Vitalik Buterin, creator of Ethereum, says Telegram should have been serious with encryption from the very beginning. At same time, he added this overall looks bad for the software’s future and communication freedom in Europe.
🚨🇮🇱🇷🇺 Anti-Israel hackers who stole gigabytes of sensitive Israeli data have been publishing the classified information on TELEGRAM.
Telegram refused Israel’s request to censor them.
Today, Telegram founder Pavel Durov was arrested in France and now faces 20 years in prison. pic.twitter.com/j4Ru8SAjE6
— Jackson Hinkle 🇺🇸 (@jacksonhinklle) August 25, 2024
TON’s team has mentioned indirectly that authorities claim that Telegram’s lack of moderation and collaboration with law enforcement has led to this situation.