Toncoin price has dropped by more than 12% following the announcement of the arrest of Telegram founder and CEO Pavel Durov in France. Durov, a dual French-Russian citizen, was arrested at Le Bourget airport on Saturday night.

Toncoin Price Drops as Telegram Founder Faces Detention

According to reports, Pavel Durov was arrested at around 8pm when he stepped out of his private jet at Le Bourget airport. He was accompanied by his bodyguard and a woman at the time of his arrest. The operation was carried out by the Air Transport Gendarmerie (GTA) on the basis of a French search warrant issued by the OFMIN of the National Directorate of the French Judicial Police.

This warrant was activated due to the ongoing investigation into Durov’s involvement in various criminal activities through his platform, Telegram.

Telegram owner Pavel Durov was recently arrested in France for failing to censor the truth in his application.

Possible charges include supporting terrorism, drug trafficking, aiding and abetting crimes, mass fraud, money laundering, concealment, pedophile content,…

— Andrew Tate (@Cobratate) August 24, 2024

Following his arrest, Durov was placed in police custody. He is expected to face multiple charges, including complicity in terrorism, drug trafficking, fraud, money laundering, and facilitating the distribution of illegal content such as pedophilia. Given the seriousness of these charges and Durov’s considerable financial resources, authorities believe pre-trial detention is almost certain, amid concerns that he could flee the country.

Meanwhile, Toncoin’s price has dropped by over 12% at the time of writing, standing at $6.02.

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Kelvin Munene Murithi

Kelvin is a leading writer specializing in crypto and finance, backed by a Bachelor’s degree in Actuarial Science. Known for his sharp analysis and insightful content, he has a good command of English and excels in thorough research and timely delivery.

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