Cybersecurity Investigation Lands Telegram Founder in Jail
Telegram may be in trouble after its founder was arrested on Saturday by French authorities for possible cybercrimes.
On Saturday, Telegram’s founder, Pavel Durov, was arrested by French authorities outside Paris. An ongoing cybersecurity investigation has determined that Telegram may have permitted criminal activity on the platform.
The company is accused of failing to cooperate with authorities in dealing with a variety of criminal activities, and the Russian billionaire Durov has been taken into custody as a result.
Telegram fired back to say that the company and its owner are not responsible for any abuse of the law that may have occurred on the platform. They further stated that they are awaiting the issue to be resolved quickly.
The investigation is in the preliminary stages, so further findings may exonerate Telegram and its founder, but they could also uncover serious legal missteps. Telegram could be faced with fines and restrictions as a result that may affect how it operates within France as well as the rest of the world.
Any time a major government body imposes fines on a social media platform in one country, that calls the problem to the attention of other governments. The platform may then choose to change its global operations in order to avoid further trouble outside of that one country.
In Telegram’s case, one of the main issues is that the company might not be providing adequate moderation on its platform. In other words, there is a question of due diligence on the part of the company’s management to identify and curtail criminal activity, as well as to bring that activity to the attention of the proper authorities and to work with said authorities to stop criminal activity.
Impact on Telegram Services
Telegram just recently launched new features that use the proprietary Toncoin (TON) cryptocurrency token to give content creators more ways to earn money. This is expected to boost traffic to the platform and make it more viable as a business platform.
Toncoin is currently down by 1.37% today to $5.50 (TON/USD). Telegram will likely take whatever steps are necessary to protect the value of their coin, and any ongoing, lengthy legal investigation is liable to hurt Toncoin’s value.
Telegram is deeply dedicated to using cryptocurrency for payment as a secure, low cost, and quick method of payment. As one of the largest social platforms currently operating, and as one of the most significant crypto supporters, Telegram’s business will directly affect the crypto market.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals