In a recent development, Russian-born billionaire and Telegram founder, Pavel Durov, was reportedly arrested at the Le Bourget Airport outside Paris on August 24, according to a police source. This development is linked to an ongoing police investigation.
Authorities have cited a lack of content moderation and facilitation of criminal activities on the platform, along with a lack of cooperation from Telegram’s management, as reasons for the arrest.
Attempts to reach Telegram and its high-ranking executives for comments have been unsuccessful. Similarly, the French Ministry of Interior, the police, and the Paris prosecutor’s office have all declined to comment. According to French media, Durov could face charges in the coming days.
Telegram, headquartered in Dubai, was founded by billionaire Pavel Durov. Born in Russia, Durov established Telegram with his brother in 2013. He left Russia in 2014 after refusing to comply with government demands to shut down opposition communities on the Vkontakte social media platform, which he later sold.
According to Forbes, Durov’s net worth is estimated at $15.5 billion. Telegram’s rise and popularity have raised concerns among European countries, including France, regarding security and data breaches.
CRYPTOCURRENCY TONCOIN PLUNGES AFTER CEO’S ARREST
In the immediate aftermath of the arrest, the cryptocurrency Toncoin experienced significant price fluctuations. Toncoin, once considered a rival to Bitcoin with a market cap of around $14 billion, saw a sudden drop of nearly 20%.
Introduced in 2021, Toncoin witnessed a surge of almost 1,000% and continued its upward trajectory this year, riding on the coattails of Bitcoin’s popularity and a surge in user numbers, fueled by the success of Telegram-based cryptocurrency projects using Toncoin.
Previously known as Telegram Open Network (TON), the project was developed by CEO Pavel Durov and his brother, Nikolai, starting in 2018. However, in 2019, the SEC ordered a halt to the sale of Gram, a token associated with the TON blockchain, due to concerns over the company’s $1.7 billion capital raise.
Toncoin currently hovers around the $5.25 mark – the lowest since August 8 – representing a 27% decline from its yearly high.
Similarly, Notcoin, a token for a popular “Tap to Earn” application on Telegram, plummeted to $0.0090, a drop of over 25% from its weekly high.
Hamster Kombat, a “Tap to Earn” game developed on the Telegram platform, allows players to earn cryptocurrency by performing simple tasks like tapping the screen or completing other in-game tasks. Notably, Hamster Kombat’s pre-market futures contract dropped to $0.19, down from its weekly high of $0.2553.
PAAL AI, one of the leading Telegram coins, followed a similar price trajectory as Notcoin. Durov’s continued detention could push PAAL’s price down to $0.15 after nearly reaching the $0.23 mark recently.
POPULAR MESSAGING APPS WITH DIGITAL CURRENCIES
A CoinGecko survey revealed that X (formerly Twitter), Telegram, and YouTube are the primary sources of information for cryptocurrency investors.
Specifically, 73.8% of cryptocurrency users rely on social media for news and information. Combined, these three platforms account for 84% of responses from the cryptocurrency community in the survey.
A significant majority of the cryptocurrency community, amounting to 73.8%, relies on social media platforms for news and information, instead of traditional news websites. X emerges as the top source with 34.4% of participants, followed by YouTube at 23.4% and Telegram at 16%.
X takes the lead with 41.7% of users spending most of their time there, followed by Telegram at 21.5% and YouTube at 20.8%.
Discord and Reddit are less popular, with 6.8% and 4.5% of users respectively considering them their primary platforms. Farcaster, a decentralized social media platform, is the main choice for only 1.3% of users.
The survey also revealed that 73.8% of the cryptocurrency community relies on social media platforms as their primary source of news and information, instead of traditional news websites. X is the top choice for 34.4% of participants, followed by YouTube at 23.4% and Telegram at 16%.
News websites lag as a primary information source, with only 6.5% of participants favoring them. Other less popular sources include Discord, Reddit, podcasts, and Farcaster.
The data suggests that while X is renowned for its cryptocurrency-related content, it is not the only online space that matters to the cryptocurrency community. More than half of the users on X, Telegram, and YouTube prefer to receive information on the same platform where they spend most of their time.
Couple Charged after Declaring a Pool Worth Over 49 Billion VND
With hundreds of participants, our organization is known for hosting multiple rope jumping events. However, due to financial difficulties, the owners of the organization have announced their inability to cover the costs totaling over 49 billion VND.
New Information on a 9,000 Billion Dong High-Interest Loan Scheme
Major General Vu Xuan Vien, the Director of Danang City Police, recently shared his insights on the process of dismantling a criminal network involved in a massive loan shark operation worth 9 trillion VND.
Arrest and Temporary Detention of Mr. Tran Duc Quan, Secretary of the Lam Dong Provincial Party Committee, due to Involvement in the Dai Ninh Project
The Criminal Investigation Agency for Corruption, Economic Crimes, and Smuggling of the Ministry of Public Security is currently investigating a case of Bribery, Extortion, and Abuse of Power and Authority in the execution of official duties, which occurred in Lam Dong province and other related areas. This case falls under the jurisdiction of the Central Steering Committee for Anti-Corruption and Misconduct, which oversees and directs the prevention and combat against corruption.
“Capturing the Chairman of Sen Tai Thu Pham Thi Hoa and her 2 Daughters”
Mrs. Pham Thi Hoa, Chairwoman of the Board of Directors of Sen Tai Thu Joint Stock Company, has been accused of exploiting the company’s reputation, falsely inflating the charter capital and misrepresenting the revenue and profit of the system to illegally raise capital.
Providing Opportunities for Borrowers Facing Heavy Interest Rates in Thach Thanh, Thanh Hoa
From late 2019 until her arrest, Bui Thi Huong in Thanh Hoa had been providing loans with exorbitant interest rates, preying on the poor residents in the area and profiting over 600 million VND illegally.
