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Pavel Durov's detention

Toncoin down more than 19% after Pavel Durov’s detention

As of 11:20 p.m. Moscow time (8:20 p.m. GMT) on August 24, before Durov’s detention, the TON exchange rate was $6.797

MOSCOW, August 26. /TASS/. The Toncoin cryptocurrency, which is used for payments within Telegram, has lost more than 19% of its value since Telegram messenger founder Pavel Durov was detained in France, according to Binance platform data.

As of 11:20 p.m. Moscow time (8:20 p.m. GMT) on August 24, before Durov’s detention, the TON exchange rate was $6.797. As of 3:04 p.m. Moscow time (12:04 p.m. GMT) on August 26, the cryptocurrency was down at $5.47, which brings the decrease in its value since Durov’s detention to 19.52%.

Durov was detained at Paris’ Le Bourget Airport late on August 24. Law enforcement agencies suspect him of being complicit in drug trafficking, crimes against minors and fraud amid the messenger’s lack of moderation, its refusal to cooperate with law enforcement, and the tools provided by the application to sell cryptocurrency, the TF1 television channel reported. Meanwhile, Russia’s embassy in France told TASS that it would take efforts to ensure that Durov’s rights are duly observed and would demand consular access for the billionaire. The French side, according to the embassy, "is evading cooperation on this matter." Durov also holds a French passport.

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