TON Price Drops Sharply After Telegram CEO’s Arrest
Update 9:23am: Added comments from the X account of TON blockchain.
Pavel Durov, founder and CEO of Telegram, was arrested in France on Saturday, leading to a significant drop in the price of Toncoin (TON), the token linked to Telegram’s blockchain network, The Open Network (TON).
The Details:
Durov, 39, was detained by France’s National Anti-Fraud Office at Le Bourget airport after arriving from Azerbaijan, Reuters said.
- French authorities executed the arrest under a search warrant issued by the French judicial police, citing his inclusion in the wanted persons file.
Durov faces accusations related to Telegram’s alleged role in facilitating serious crimes, including terrorism, narcotics trafficking, and fraud.
- French officials claim the platform’s anonymity features have enabled these activities, and that Telegram failed to moderate or cooperate with investigations.
The news of Durov’s arrest triggered a sharp decline in the value of Toncoin, which dropped nearly 17% within hours, falling from $6.80 to $5.61.
Update: TON Blockchain’s X account issued the following statement:
- The TON community remains strong and fully operational.
- The community stands by Pavel Durov during this challenging time.
- TON remains committed to freedom of speech and decentralization.
- Durov’s advocacy for an open, decentralized internet continues to inspire.
- The community will stay focused on its mission and global principles.
- Members are encouraged to stay calm, united, and keep building.
- Appreciation is extended for continued support.
What to watch next: Keep an eye on how this arrest might impact Telegram’s operations and user base, especially in markets where the platform faces regulatory challenges.
This is a developing story published on BitPinas: TON Price Drops Sharply After Telegram CEO’s Arrest
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