The Open Network, otherwise known as the TON blockchain, has issued a statement concerning the arrest of Telegram co-founder and CEO Pavel Durov. The French authorities arrested the 39-year-old Franco-Russian billionaire at Bourget airport for offenses allegedly related to his messaging app.
TON Community Solidarity For Telegram Founder
In a statement on X, TON posted a message of solidarity for Durov and assurance to the community that the blockchain remains fully functional and strong despite the recent arrest and detention by the French.
According to the statement, the TON communityâs commitment to decentralization and freedom of speech remains steadfast, particularly in challenging times. It believes that Telegramâs CEO will continue to inspire millions globally by dedicating himself to values that promote an open and decentralized internet for all.
The statement also encouraged everyone in the TON community to remain calm and continue building. TON blockchain has recorded a rapid growth trajectory, surpassing $600 million in Total Value Locked as of June this year. This affirms the platformâs increased user engagement due to its user-friendly nature and low transaction fees.
Toncoinâs Price Takes a Massive Plunge
However, despite these assurances the price of TONâs native token has plunged significantly as data at the time of writing shows Toncoin trading at $5.65, which represents a 16.51% decrease in the past 24 hours. The sudden plunge followed news of Durovâs arrest in Bourget airport just after he stepped off his private jet.
It would appear that the TON communityâs post has done little to calm the nerves of blockchain investors. Perhaps the charges being leveled against Durov have sparked concerns among members of the community.
Legal Implications and Diplomatic Involvement
The French agency OFMIN says Durovâs arrest is part of an ongoing preliminary investigation of the Telegram CEO. Notably, the OFMIN handles cases involving the prevention of violence against minors, cyberbullying, drug trafficking, fraud, and organized crime.
This gives insight into the likely charges that will be brought against Durov, who will face indictment anytime now. Reports say Russian diplomats have established communication with Durovâs lawyer, and the embassy in France has demanded a guarantee of Durovâs rights.
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