Toncoin Plummets 20% Following Telegram CEO Pavel Durov's Arrest in France

TON blockchain faced a three-hour transaction halt, sparking community concerns. Investors eye Toncoin's current price as a potential buying opportunity amid market turmoil.

Toncoin (TON) has seen a difficult five days after Telegram co-founder and CEO Pavel Durov was arrested in Paris. Due to Toncoin’s close association with Telegram, the market reacted strongly, causing TON’s price to decrease by over 20% since the arrest. Additionally, Ton has experienced a halt in network transactions for over 4 hours. This sudden decline has left many investors concerned about the token’s future.

TON Blockchain Experiences Transaction Halt

Known for its speed and reliability, the TON blockchain recently experienced an unexpected halt. According to blockchain analytics platform Lookonchain, the TON network stopped processing transactions for four hours straight, completely pausing its normal operations.

?The @ton_blockchain is down for more than 4 hours.https://t.co/QV0KeZygv7 pic.twitter.com/zcKcFMbrpK

This sudden stop has led to various speculations in the community. Some speculate that it may be due to a technical glitch or routine maintenance, while others fear it could be a more serious issue.

The lack of a clear statement from TON’s developers regarding this matter has added to the uncertainty, leaving users concerned and awaiting further updates.

Telegram CEO Arrested in France

On August 24, Pavel Durov, founder and CEO of Telegram, was arrested by French authorities, who initially did not disclose the reason for his arrest. Later, the French government stated that Durov’s arrest was part of an investigation involving an individual accused of sharing child sexual abuse material (CSAM), money laundering, drug trafficking, selling hacking tools, and failing to cooperate with law enforcement, among other offenses.

Telegram has responded by stating that its CEO has “nothing to hide.” The company has consistently claimed to follow industry standards for moderating content. However, Durov’s arrest suggests that French authorities believe Telegram is not doing enough to curb illegal activities on its platform.

Toncoin In Reaccumulation Phase

Following the arrest of Telegram founder Pavel Durov in France, Toncoin has experienced a sharp decline, dropping from $7 to its current price of $5.3. This decrease has attracted the attention of many analysts and traders, who view it as an opportunity to purchase Toncoin at a lower price.

Coin Signals, a group of crypto analysts on X, recently suggested that Toncoin may be in a reaccumulation phase. They believe that buying at the current price could yield a 3x to 5x return if the market improves.

Re-Accumulating #TON between 200 EMA – 365 EMA Zone. Durev knew about the arrest warrant and was probably prepared for it before entering France. It’s likely that he’ll be released soon.Buying more TON in this range : $5.7 – $4.7Target : 3x – 5x pic.twitter.com/6X8APr6Bm2

They speculate that the price drop following Durov’s arrest may have been an overreaction. This could present a favorable opportunity for investors willing to assume some risk. At the time of writing, Toncoin is trading at $5.3, indicating a nearly 2% decrease in the last 24 hours, with a market capitalization of $13.4 billion.

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