The rate of the Toncoin (TON) cryptocurrency, issued on the Telegram Open Network, fell by 19% after the arrest of the creator of the Telegram messenger Pavel Durov.

Durov was arrested on August 24 in France by officers of the National Office for Combating Fraud. Pavel was charged with a host of charges based on the fact that he allegedly did not even try to moderate content on Telegram and therefore condoned, for example, drug trafficking, selling stolen goods and carrying out scams. For these offenses, he faces a severe punishment in the form of imprisonment for up to 20 years.

After the businessman was seized by law enforcement, a powerful bearish trend emerged on the Toncoin market, and in three hours the coin's price fell by 19% to $5.49 on the HitBTC exchange. However, during the correction, the asset's value had already increased by 7%, and at 04:00 Moscow time, traders bought a huge amount of TON, indicating a reversal.

Toncoin rate falls after Durov's arrest

Telegram Open Network representatives were quick to reassure blockchain users and Toncoin community members that Pavel's detention would not affect the network's operation. The project's staff supported Durov during this difficult time and reported that he advocated for freedom of speech and decentralization - values ​​that inspire millions of people.#binance