Pavel Durov, the billionaire founder and CEO of the encrypted messaging platform Telegram, was arrested on Saturday evening by the French authorities at Le Bourget airport, which is located outside Paris, local media TF1 TV reported.
The 39-year-old was detained around 8 pm local time after his private jet landed at the French airport. He travelled to the European country from Azerbaijan.
Although the reason for his arrest remains unknown, it is reported to be related to the activities of his messaging platform.
A Popular, Yet Controversial Platform
Durov and his brother founded Telegram in 2013, prioritising end-to-end encryption on the platform, meaning no one can intercept messages. However, he had to leave Russia the following year as he refused to comply with the local government’s order to shut down opposition communities on the platform.
Telegram has become one of the top social media platforms, with about 900 million active users. Financial services companies and trading signal providers also use it to grow trader-specific communities.
However, Telegram is also a hotbed for scams and fraud. A survey by Finance Magnates and FXStreet found that Telegram is at the top when it comes to financial fraud victims losing funds.
After his exodus from Russia, Durov runs Telegram from Dubai. The Russian-born entrepreneur holds dual citizenship in the United Arab Emirates and France. His net worth is estimated to be $15.5 billion.
The Interest of Russia
Interestingly, Russia took an active interest in Durov following his arrest. The Russian embassy in France issued a statement saying that it is taking “immediate steps” to clarify the situation. Russian news agency TASS also reported that an embassy representative clarified that the embassy is proactively taking the steps without any request from Durov’s team.
Telegram or Durov’s legal team has yet to issue any official response to the arrest.
Pavel Durov, the billionaire founder and CEO of the encrypted messaging platform Telegram, was arrested on Saturday evening by the French authorities at Le Bourget airport, which is located outside Paris, local media TF1 TV reported.
The 39-year-old was detained around 8 pm local time after his private jet landed at the French airport. He travelled to the European country from Azerbaijan.
Although the reason for his arrest remains unknown, it is reported to be related to the activities of his messaging platform.
A Popular, Yet Controversial Platform
Durov and his brother founded Telegram in 2013, prioritising end-to-end encryption on the platform, meaning no one can intercept messages. However, he had to leave Russia the following year as he refused to comply with the local government’s order to shut down opposition communities on the platform.
Telegram has become one of the top social media platforms, with about 900 million active users. Financial services companies and trading signal providers also use it to grow trader-specific communities.
However, Telegram is also a hotbed for scams and fraud. A survey by Finance Magnates and FXStreet found that Telegram is at the top when it comes to financial fraud victims losing funds.
After his exodus from Russia, Durov runs Telegram from Dubai. The Russian-born entrepreneur holds dual citizenship in the United Arab Emirates and France. His net worth is estimated to be $15.5 billion.
The Interest of Russia
Interestingly, Russia took an active interest in Durov following his arrest. The Russian embassy in France issued a statement saying that it is taking “immediate steps” to clarify the situation. Russian news agency TASS also reported that an embassy representative clarified that the embassy is proactively taking the steps without any request from Durov’s team.
Telegram or Durov’s legal team has yet to issue any official response to the arrest.
This post is originally published on FINANCEMAGNATES.
