Double-Digit Losses for Toncoin
Toncoin (TON) has experienced a significant decline in value, with losses exceeding 14.5% as French media reported that Pavel Durov, the CEO of Telegram, was arrested at Le Bourget Airport. This development comes as French authorities consider Durov complicit in various crimes organized via Telegram due to the platform’s lack of moderation.
The Arrest and Warrant
At the time of writing, Toncoin is currently trading above $5.75, according to CoinDesk Indices data. The CoinDesk 20 (CD20), a measure of the performance of the largest digital assets, remains flat, up only 0.79%. The warrant for Durov’s arrest was issued by OFIM, an office of the French National Police tasked with preventing violence against minors.
Criminal Complaint Against Durov
The warrant stems from a criminal complaint filed by OFIM in November 2023, which accuses Durov of being complicit in various crimes due to Telegram’s lack of moderation and cooperation with law enforcement. These alleged crimes include:
- Drug Trafficking: The lack of moderation on Telegram has enabled drug traffickers to operate freely on the platform.
- Distribution of Child Sexual Abuse Material (CSAM): The platform’s failure to moderate has led to the distribution of CSAM, a serious offense against minors.
- Fraud: The absence of moderation and cooperation with law enforcement has facilitated fraudulent activities on Telegram.
Elon Musk Calls for Durov’s Release
In response to the news, Elon Musk took to X (formerly Twitter) to advocate for Durov’s immediate release. His post reads:
"#FreePavel"
Telegram’s Response
Despite multiple requests for comment from CoinDesk, Telegram’s PR office has remained silent on the matter.
Law Enforcement Sources Weigh In
TF1, a French news network, spoke with law enforcement sources who expressed their surprise at Durov’s decision to visit France despite being wanted. One source was quoted as saying:
"On his platform, countless crimes and offenses were committed for which he does nothing to moderate or cooperate."
Another source emphasized that Telegram has become the go-to platform for organized crime, stating:
"For years, it has become the number one platform for organized crime."
Confirmation from BBC and Reuters
The arrest was also confirmed by the BBC and Reuters.
UPDATE (August 25, 05:10 UTC)
The article has been updated to include Elon Musk’s tweet calling for Durov’s release.
