Telegram Faces Indian Probe Following Durov’s Arrest In France: TON Plummets 20%
August 27 2024 - 4:30AM
NEWSBTC
The Indian government has launched an investigation into the social
media platform Telegram over concerns that it is being used for
criminal activities such as extortion and gambling. The probe
follows the arrest of the app’s CEO Pavel Durov in France over the
weekend. Telegram Faces Potential Ban In India According to recent
reports by Indian media outlets, the investigation is being led by
the Indian Cyber Crime Coordination Centre under the Ministry of
Home Affairs and the Ministry of Electronics and Information
Technology. Related Reading: Bitcoin Market Update: Analyst Sees
65% Chance Of Retest Before Surge To $68,000 The report notes that
Telegram boasts over 5 million registered users in India, making it
one of the country’s most widely used messaging platforms.
However, the government’s concerns stem from allegations that the
app’s peer-to-peer communication features have been allegedly
exploited by “bad actors to facilitate illicit activities.” The
fact that Telegram does not have an office in India is reportedly
complicating the government’s efforts to regulate and investigate
the platform, despite the app’s compliance with India’s Information
Technology (IT) Rules. Reports suggest that the app could even face
a potential ban in India depending on the findings of the
investigation. Durov Accused Of Allowing Criminal Activities The
investigation in India has taken on added significance following
the detention of Durov at the Paris-Le Bourget Airport on Saturday,
as reported by Bitcoinist. Durov, who holds citizenships in
Russia, France, the United Arab Emirates (UAE), and St. Kitts and
Nevis, is reportedly being accused of failing to curb criminal
activities on his platform in the European country. The French
authorities have suggested that Telegram’s encryption tools have
allowed criminals to “flourish” on the app. However, Telegram has
pushed back, insisting that the company complies with European
Union (EU) laws and content-moderation policies, and calling the
claims “absurd.” The arrest has reportedly sparked a backlash from
Russian politicians, with some suggesting that it could be
“politically motivated.” Russia’s top human rights official,
Tatyana Moskalkova, claimed that French authorities arrested Durov
because they want to shut down the censorship-free platform.
Toncoin (TON) Price Tumbles Amid these mounting legal troubles for
the messaging app, Toncoin (TON), the cryptocurrency originally
developed by Telegram, has seen losses of over 20% in the seven-day
time frame and is currently trading at $5.39. However, in a
24-hour time frame, the token has also seen a price drop of nearly
8%, further demonstrating the bearish sentiment surrounding the TON
price among investors after the news broke over the weekend.
Related Reading: Here’s When Bitcoin Is Predicted To Break Its
All-Time High If History Repeats CoinGecko data also shows that the
token has also seen a 66% drop in trading volume and a 34% gap from
its all-time high reached in June this year. Featured image
from DALL-E, chart from TradingView.com
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