Crypto Investigation: Pavel Durov Arrested, Toncoin Price Freefalls, and Telegram Threatened with Restrictions

Bittime - Crypto Investigation: Pavel Durov is arrested, the price of Toncoin plummets, and Telegram is threatened with restrictions.

The first issue that emerged was news regarding Pavel Durov who was arrested by the French police, which had an impact on the price of Toncoin which fell freely, and Telegram's position was threatened.

What really happened? What is the reason behind Pavel Durov's arrest, and what is the condition of the Toncoin price?

Why was Pavel Durov Arrested?

The founder and CEO of the Telegram application, Pavel Durov, has reportedly been arrested at Bourget Airport, Paris, after Durov traveled on his private jet from Baku, Azerbaijan.

The arrest was made on Saturday night on the grounds of violations committed by the Telegram platform related to organized crime, terrorism, drug transactions and violence against children.

The arrest warrant for Pavel Durov was issued by France's OFMIN, an agency tasked with preventing cybercrime.

"Enough of Telegram's impunity," said one investigator quoted by NDTV.

Indeed, so far Telegram is known for its high level of respect for privacy, so taking a case against Telegram is not easy so it seems as if it is above the law.

However, the arrest of Pavel Durov shows that Telegram's impunity is over with a big agenda behind it.

Telegram Suspected of Violation

The arrests were made by investigators from the National Anti-Fraud Office, which is part of the French Customs Department, as reported. 

Pavel Durov, who has been criticized for allegedly inadequate moderation on the encrypted Telegram app, allegedly refused to cooperate with authorities, according to the report.

Telegram has not provided an official response regarding this arrest as of Sunday morning. The French Interior Ministry and police also had no comment, Reuters reported. 

The Russian Foreign Ministry stated that its embassy in Paris was trying to clarify the situation regarding Durov, as reported by Reuters.

Durov is expected to appear in court on Sunday, according to reports from TF1 and BFM.

Toncoin Price Freefalls Toward -20%?

Pavel Durov's arrest automatically affected various projects related to him, including Toncoin (TON).

It was observed from Bittime Trade that the price of Toncoin had fallen by -19% at the time this article was written.

The level of decline in TON prices when this article was written appears to be the same as the conditions on 05 August 2024 at 15.00 WIB.

The decline figure of -19% is still fluctuating at -18%, but if Pavel Durov, who was arrested, suffers a bad fate, it is possible that the price of Toncoin will plummet by up to -20%.

The scenario of a Toncoin price drop of up to -20% seems a bit excessive, unless something unpleasant happens.

Investors and traders who have Toncoin (TON) assets are advised to continue monitoring the relevant situation while conducting in-depth research.

Telegram Threatened with Restrictions and Various Reactions on X

Another impact of Pavel Durov being arrested was the emergence of various concerns regarding restrictions on the Telegram application on back up data.

Because Telegram is not only threatened with restrictions but also complete blocking.

Even though it seems excessive, this concern is natural to arise considering that the situation that befell Pavel Durov is still unclear.

The Extra Time Indonesia account issued a post urging Telegram users to prepare.

The post from Extra Time Indonesia, which has been reposted by 4 thousand X users, shows that concerns about Telegram restrictions are real.

Despite concerns about Telegram restrictions, crypto, blockchain and Web3 projects are practically in a less than pleasant situation at the moment.

Various Support for Pavel Durov #FreePavel

Even though Pavel Durov was arrested and about to be stripped of his freedom due to his stance on freedom of opinion in cyberspace, support for Pavel Durov was not a joke.

Elon Musk reacted directly to Pavel Durov's arrest via post X.

Elon Musk was observed to have issued two X posts explicitly related to Pavel Durov, however, Elon Musk also issued another post with a satirical tone regarding Pavel Durov's arrest.

Elon Musk's support for Pavel Durov was welcomed by various other X users who felt that Pavel Durov should be released.

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