Telegram CEO Pavel Durov 'Arrested' in France

Sunday, 25/08/2024 | 05:55 GMT by Arnab Shome

His 'arrest' was related to the activities of his end-to-end encrypted messaging app.

The Russian embassy in France is taking “immediate steps” to clarify the situation.

Pavel Durov at TechCrunch Disrupt Europe Berlin 2013; Source: Wikimedia Commons

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 detention and then "arrest" remains unknown, it is reported to be related to the activities of his messaging platform. It is also unclear if he has only been detained or have been arrested too, as multiple reports suggest that it is only a detention for the time being. Any official confirmations from either side are yet to come.

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.

Source: A joint survey by Finance Magnates and FXStreet

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 captivity.

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.

A Popular, Yet Controversial Platform

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.

The Interest of Russia

Telegram or Durov’s legal team has yet to issue any official response to the captivity.

Transformation in the APAC Trading Landscape and Beyond | FMPS:24

As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale. Speakers: Eric Blewitt, CEO, Investment Trends Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC) Michael Bogoevski, Head of Institutional Sales, CMC Connect Karin Setchell, General Manager, Product & Investing Solutions, CommSec #fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance 📣 Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/ 👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents 📸 Instagram: https://www.instagram.com/fmevents_official 🐦 Twitter: https://twitter.com/F_M_events 🎥 TikTok: https://www.tiktok.com/@fmevents_official ▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale. Speakers: Eric Blewitt, CEO, Investment Trends Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC) Michael Bogoevski, Head of Institutional Sales, CMC Connect Karin Setchell, General Manager, Product & Investing Solutions, CommSec #fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance 📣 Stay updated with the latest in finance and trading! Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/ 👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents 📸 Instagram: https://www.instagram.com/fmevents_official 🐦 Twitter: https://twitter.com/F_M_events 🎥 TikTok: https://www.tiktok.com/@fmevents_official ▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!