In a shocking turn of events, Pavel Durov, the founder and CEO of Telegram, has been arrested in France. The news has sent shockwaves through the cryptocurrency community, with Toncoin (TON), the native token of the Telegram Open Network, plummeting by 13% in the aftermath.
Durov, known for his libertarian views and ascetic lifestyle, has been a central figure in the development of Telegram, a popular encrypted messaging app with over 700 million monthly active users worldwide. His arrest in France has raised concerns about the future of both Telegram and the TON ecosystem.
The arrest comes shortly after Durov announced plans to limit Telegram’s share of Toncoin to approximately 10% of the total supply, selling the surplus holdings to long-term investors with a lockup and vesting plan spanning one to four years. This move was aimed at maintaining the decentralization and stability of the TON ecosystem.
The exact reasons behind Durov’s arrest remain unclear, but the incident has sparked speculation about potential legal issues related to Telegram’s operations or the TON project. The drop in Toncoin’s price reflects the uncertainty and concerns surrounding the situation.
As the news continues to unfold, the cryptocurrency community and Telegram users await further updates on the status of Pavel Durov and the potential implications for the future of Telegram and TON.
