Because Pavel Durov Was Arrested, Toncoin Price Drops 14%

Because Pavel Durov was arrested, the price of Toncoin fell 14% (Photo; Doc. ariannaedirrice)

JAKARTA - The crypto world was rocked by shocking news on Saturday night, August 24 when Pavel Durov, founder and CEO of Telegram, was arrested by French authorities. The arrest came shortly after his private jet landed at Le Bourget Airport, outside Paris. According to local media reports, TF1, this arrest led to the price of Toncoin, a cryptocurrency linked to Telegram, dropping sharply by 14% to 5.75 (Rp88,377) according to CoinGecko data.

Durov, known as a billionaire from Russia, was arrested under a warrant issued by OFMIN (Office Franmailais de la Modernization et de l'Innovation Numurique), a French judicial police agency. OFMIN alleges Telegram, a messaging app developed by Durov and his brother Nikolai, lacks moderation and cooperation with law enforcement, allowing rampant drug trafficking, fraud, and child sexual exploitation on the platform.

Pavel Durov, who was accompanied by his personal bodyguard and a woman upon arrival in France, had previously avoided a trip to Europe, particularly countries monitoring Telegram's activities. Durov is known to have become a non-grate persona in France, but that night he made a move that was considered a major mistake by sources close to the investigation. The real reason Durov's flight to France is not known for sure, but what is clear, he is now in custody.

Durov's arrest sparked reactions from various parties, including from a well-known technology entrepreneur, Elon Musk, who voiced his support for Durov to be immediately released through his X social media account.

According to DL News information, Pavel Durov founded Telegram in 2013 and since then the app has become one of the most popular messaging platforms in the world, especially among those who want more privacy. In 2014, Durov left Russia after refusing to comply with the Russian government's request to close the opposition community on VKontak, the social media platform he also founded and then sold.

These arrests not only drew international attention, but also had a direct impact on the crypto market, particularly Toncoin, which fell sharply within hours of the news circulating. Investors are now awaiting further developments from this case, which has the potential to have broad implications for Telegram's future and digital assets associated with it.