TON Drops 14% Following Arrest of Telegram CEO Pavel Durov in France

Toncoin (TON) has plummeted by over 14.5% after reports surfaced that Pavel Durov, the CEO of Telegram, was arrested at Le Bourget Airport in France. The arrest was made under a warrant issued by OFIM, a branch of the French National Police dedicated to preventing violence against minors. This action is part of a broader investigation into Telegram's inadequate moderation policies and its failure to cooperate with law enforcement agencies.

As of now, Toncoin is trading just above $5.75, reflecting a 14.5% decline, according to data from CoinDesk Indices. Meanwhile, the CoinDesk 20 (CD20), which tracks the performance of the largest digital assets, remains stable, with a slight increase of 0.79%.

The arrest warrant was issued based on a criminal complaint by OFIM, which was established in November 2023. The office has accused Durov of being complicit in various illegal activities, including drug trafficking, the distribution of child sexual abuse material (CSAM), and fraud. These allegations arise from Telegram's reported lack of moderation and its insufficient cooperation with law enforcement, as reported by the French network TF1.

According to TF1, a law enforcement source stated, "Numerous crimes and offenses have been committed on his platform, and he has done nothing to moderate content or cooperate with authorities." Another source told TF1, "For years, it has become the leading platform for organized crime."

Sources who spoke with TF1 expressed surprise that Durov came to France, knowing he was wanted there. His arrest has also been confirmed by the BBC and Reuters.