Toncoin drops 18% after arrest of Telegram CEO Pavel Durov, Notcoin falls
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The arrest of Pavel Durov in France caused the price of Toncoin to fall by 18%. French authorities have linked Durov to crimes facilitated by Telegram's lack of moderation.
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The price of Toncoin (TON) fell by less than 18% to $5.53 on Sunday following the arrest of Telegram founder and CEO Pavel Durov at Le Bourget airport in France. Likewise, the price of Notcoin (NOT) fell by 21% as the threat of Durov's legal troubles grew.
On August 24, Durov was detained by French police at Bourget airport after arriving on a private jet from Azerbaijan, the BBC reported. His arrest was prompted by France's Ofim order, which deals with the prevention of abuse of minors.
The enforcement action is part of a police investigation into allegations by Telegram that it allowed criminal activity to flourish on the platform.
French authorities have argued that insufficient oversight of Telegram has enabled illegal activity, raising concerns about the platform's role in facilitating such behavior, particularly given its massive user base of nearly one billion people.
Toncoin price after the news It has suffered a major setback. The market value of the ton fell, down from 17.1 billion dollars Around $14 billion within hours, CoinGecko data shows.
Toncoin is a closely related crypto asset. Telegram messaging app and its Founder Pavel Durov. Ton is an Open Network coin that was originally developed by Telegram but later launched independently. Ton will integrate with Telegram, allowing users to use Toncoin for payments, store value and access decentralized applications within the Telegram app.
Like Toncoin, NotCoin is linked to Telegram. NotCoin is a crypto-based idle game that became popular on Telegram this year, amassing more than 35 million users in just five months.
The simplicity and accessibility of the game has made it a gateway to the world for many Telegram users. crypto, allowing Just tap their screens to earn tokens.
Following Durov's arrest, Notcoin's value has plummeted. It is currently trading around $0.009, down 20% in the last 24 hours While hours It trades at around $5.6 a ton. Toncoin's price is about 31% away from its high of $8.20 established in mid-June.
The broader crypto market remains relatively stable 1.1% increase in one day. were a bit Change in The price of Bitcoin In the last 24 hours, nearly $64,000 in transactions at press time.
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