In a major development, the price of Toncoin (TON) has dropped by nearly 10% after French authorities revealed that Telegram founder and CEO Pavel Durov has been charged with 12 serious crimes. This news adds to Durov’s legal troubles following his arrest on August 24.
French Cybercrime Center (C3N) and the National Office Against Fraud (ONAF) have been investigating Durov since July 8.
The charges against him include complicity in managing an online platform that facilitates illegal transactions, refusal to provide critical information to authorities, and involvement in more severe crimes such as child pornography, narcotics distribution, and money laundering.
Durov’s detention, which began on August 25, has been extended until August 28, as French authorities intend to question him further.
This situation has drawn significant global attention, with French President Emmanuel Macron clarifying that Durov’s arrest was not politically motivated, affirming France’s commitment to freedom of expression. The UAE Ministry of Foreign Affairs has also expressed concern over Durov’s case, requesting that France provide necessary consular services.
The controversy surrounding Durov has also impacted Telegram’s operations. India’s Ministry of Information Technology has launched its investigation into the platform, with a potential ban on Telegram looming in the country, where it has a substantial user base of approximately 104 million people.
Despite the mounting legal challenges, Durov has received support from notable figures in the cryptocurrency community, including Elon Musk, Ethereum founder Vitalik Buterin, TRON founder Justin Sun, and Solana co-founder Anatoly Yakovenko.
However, the continued negative news has taken a toll on the TON token, which has seen its price drop nearly 30% since Durov’s arrest, falling from $6.8 to $5.0, reflecting the market’s concerns over the future of Telegram and its associated projects.
Related: Can Toncoin (TON) Recover After Telegram CEO Arrest?
