Toncoin (TON), the native cryptocurrency of The Open Network, saw a drop of more than 20% on Sunday following reports of the arrest of Pavel Durov, founder and CEO of Telegram, in France. This development underlined the close relationship between the blockchain project and Telegram's leadership, even though the messaging application had positioned TON as an independent ecosystem.

Pavel Durov Arrested in France

According to a recent Reuters report, French police arrested Pavel Durov on Saturday night, shortly after his private jet landed at Bourget Airport, outside Paris. The report, which cited media outlets BFMTV and TF1, indicated that the 39-year-old businessman was the target of an arrest warrant in France as part of a preliminary investigation focused on the lack of moderators on Telegram, which would have allowed the use platform criminal.

Although French authorities had not yet formally charged Durov, news of his arrest shook the TON ecosystem. The project's native token suffered a dramatic drop, going from $6.8 to $5.52 in just two hours. At last check, the token had lost 20.07% in 24 hours, trading at $5.38.

Reactions from The Open Network and TON Ventures

Faced with this situation, The Open Network went to X (formerly Twitter) to reassure users, ensuring that the ecosystem remained operational despite Durov's arrest. “Following the recent news regarding Telegram founder Pavel Durov, we want to assure everyone that the TON community remains strong and fully operational,” the post said. “We encourage everyone to stay calm, stay united and keep building as we navigate this situation together.”

For its part, TON-linked venture capital firm TON Ventures also issued an update on Durov's situation, suggesting that his arrest undermined freedom of expression and decentralization.