Telegram chief arrested - TON price responds

Pavel Durov, CEO of the messaging service Telegram, has been arrested in France. The price of the cryptocurrency TON decreased significantly.

According to media reports arrested officials the 39-year-old man Saturday night at an airport near Paris after arriving on a private jet from Azerbaijan.

Authorities had earlier searched in France for the Russian billionaire, who also holds French citizenship. He is accused of failing to act against the spread of hate speech on Telegram and its use for criminal activities.

As a result, the price of the cryptocurrency TON (The Open Network) linked to the messaging service fell significantly. During the night from Saturday to Sunday, the TON price lost about 20 percent. Currently, TON stands at $5.67, down 17 percent from the previous week.