As a seasoned analyst with years of experience under my belt, I find myself closely monitoring the developments surrounding Telegram and its associated digital currency, Toncoin. The recent turn of events, including the arrest of CEO Pavel Durov and the ongoing investigations into the messaging app’s alleged involvement in spreading sexually explicit deepfake content, has raised eyebrows worldwide.
1. Worldwide investigations are being conducted against encrypted messaging platform Telegram following the recent arrest of its CEO, Pavel Durov. The South Korean authorities have initiated an investigation to determine if Telegram has facilitated the dissemination of sexually explicit deepfake content. Meanwhile, market speculators expect a continued drop in Toncoin‘s price due to technical chart concerns.
Telegram Now Under Investigation in South Korea
According to a Reuters article dated September 2nd, the Telegram messaging app – which operates on blockchain technology – is being scrutinized by South Korean authorities for suspected online sex offenses. However, the South Korean Cyber Investigation Bureau has chosen not to provide any comments regarding this report.
According to Yonhap News, Woo Jong-soo, leader of the National Office of Investigation, stated that authorities have initiated a preliminary probe into the messaging app Telegram due to allegations it may be facilitating the commission of sexual offenses involving deepfakes.
According to Woo, similar to how France conducted an internal probe, the Seoul Metropolitan Police Agency initiated an investigation into the business operations of Telegram prior to formally charging them.
The investigation commenced following widespread public and political uproar about fake pornographic videos using deepfake technology, which involved South Korean women. Local news outlets disclosed that this type of content is commonly found in Telegram discussion groups.
The police from South Korea are intending to work together with French officials and various organizations to discover techniques for scrutinizing the Telegram platform.
In addition, Telegram is being investigated in European countries and other regions like India and Indonesia. Some cryptocurrency investors and venture capital firms are starting to view this situation as potentially becoming a significant, unforeseen event – much like a ‘Black Swan’ in the world of finance.
Toncoin Price to Fall Below $5?
Over the past day, the price of TON dropped approximately 3%, now sitting below $5.20. In the same timeframe, its lowest and highest points were at $5.12 and $5.39 respectively. Additionally, there’s been a 5% drop in trading volume over the last 24 hours, suggesting a decrease in trader engagement.
Currently, Toncoin’s price is dipping below its 200-day moving average (represented by blue), following a decline that caused it to drop beneath both the 50-day and 100-day moving averages. If the $5.1 support level gives way in the near future, the primary level of support may lie around the $5 psychological price point.
To regain its footing, the price should surge beyond $5.5, paving the way for potential recovery, given that the TON blockchain, created by Telegram, handled over 46 million transactions in a week, according to data from IntoTheBlock.
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2024-09-02 12:22