As Pavel Durov has been charged for illegal activities on Telegram, I recalled FXStreet's engagement with the social media platform over financial scams.
Telegram quickly approached FXStreet against a report affecting their name but never replied to the flagging of our clone.
Pavel Durov's recent arrest at a Paris airport sent shockwaves through the tech and trading communities. Durov, Telegram's founder and CEO, faces charges related to the criminal activities happening on its platform.
This is FXStreet's inside story with Telegram.
The Fate of Two Emails
On a Tuesday at noon, April 9 this year, FXStreet's contact desk received a routine email titled “Article Review – Potential Amends.” What was a usual reach-out from a company to amend or influence our coverage felt a little special because of its sender: a Telegram representative.
The email read as follows (translated from Spanish):
I am writing to request clarifications on an article.
We can't confirm that such a vulnerability exists. This video is likely a hoax. The people behind the video were unable to provide any information that could be used to reproduce this behavior.
On the other hand, it is not true that Pavel Durov is the owner of Toncoin. Toncoin is the cryptocurrency of TON (The Open Network), from the TON Foundation. The TON Foundation is completely independent of Telegram.
I would appreciate it if you could make the relevant clarifications.
Thank you for your time.
Greetings.
Our editorial team reviewed the request, made the appropriate amendments, and replied to the Telegram spokesperson. Before the end of the next day, the ticket was closed.
In the corrected article, a note was left indicating the changes: “This story was corrected on April 10 at 00:48 GMT to remove a reference which described Pavel Durov as the owner of Toncoin.”
Two months prior, on February 23, an internal email titled “Scam prevention campaign in Telegram” circulated among the FXStreet team. In it, our Social Media manager called for action against FXStreet clones and impersonators on the platform.
In the next few months, FXStreet employees reported several channels and accounts to Telegram for their takedowns. Some used the FXStreet brand without permission and peddled signal services “with up to 93% accuracy” and investment plans that turn $1,000 into $5,000 in just three days. Others impersonated FXStreet experts' identities and offered to copy-trade their successful strategies.
After six months, and despite all the team's efforts, these scams and new ones remain active on Telegram. No Telegram representative has reached back.
Telegram's Wild West
Telegram's significance in the trading community cannot be overstated. With its large-scale channels and bot integrations, it has become a go-to platform for traders seeking real-time information and community engagement. Our verified channel, “FXStreet Forex News,” delivers timely news to almost 100,000 traders daily in the messaging app.
This popularity—and the lack of moderation and policing—has made the platform a breeding ground for scams. A joint survey by Finance Magnates and FXStreet found that 60.09% of traders who fell victim to scams on Telegram lost funds, making it the platform with the highest “success rate” for scammers.
Our unsuccessful efforts to prevent scammers from thriving on the platform highlight Telegram's lack of care in protecting its users.
Freedom of Harm
For several days, pundits have been discussing the “true motives” behind Durov’s arrest and accusations—be it geopolitical plays, attacks on privacy and free speech, or national security concerns.
No expert, though, even the most staunch Telegram defender, is arguing that the underlying accusations are untrue.
I love Telegram and all the positive innovations it has brought—from large-scale groups to embracing cryptocurrency—but I refuse to accept the problems it breeds as inevitable.
Telegram reached out to FXStreet to fight back against a “likely hoax” affecting its name. Why wouldn’t it also react to proven frauds happening on its platform?
Back in March, I argued here on Finance Magnates that Telegram was an ideal playground for scammers, and added: “Telegram should take action or take responsibility for what happens on its platform.”
I hope Durov regains his freedom of movement soon. At the same time, I hope Telegram takes responsibility and does its best to free users from harm and scams.
Pavel Durov's recent arrest at a Paris airport sent shockwaves through the tech and trading communities. Durov, Telegram's founder and CEO, faces charges related to the criminal activities happening on its platform.
This is FXStreet's inside story with Telegram.
The Fate of Two Emails
On a Tuesday at noon, April 9 this year, FXStreet's contact desk received a routine email titled “Article Review – Potential Amends.” What was a usual reach-out from a company to amend or influence our coverage felt a little special because of its sender: a Telegram representative.
The email read as follows (translated from Spanish):
I am writing to request clarifications on an article.
We can't confirm that such a vulnerability exists. This video is likely a hoax. The people behind the video were unable to provide any information that could be used to reproduce this behavior.
On the other hand, it is not true that Pavel Durov is the owner of Toncoin. Toncoin is the cryptocurrency of TON (The Open Network), from the TON Foundation. The TON Foundation is completely independent of Telegram.
I would appreciate it if you could make the relevant clarifications.
Thank you for your time.
Greetings.
Our editorial team reviewed the request, made the appropriate amendments, and replied to the Telegram spokesperson. Before the end of the next day, the ticket was closed.
In the corrected article, a note was left indicating the changes: “This story was corrected on April 10 at 00:48 GMT to remove a reference which described Pavel Durov as the owner of Toncoin.”
Two months prior, on February 23, an internal email titled “Scam prevention campaign in Telegram” circulated among the FXStreet team. In it, our Social Media manager called for action against FXStreet clones and impersonators on the platform.
In the next few months, FXStreet employees reported several channels and accounts to Telegram for their takedowns. Some used the FXStreet brand without permission and peddled signal services “with up to 93% accuracy” and investment plans that turn $1,000 into $5,000 in just three days. Others impersonated FXStreet experts' identities and offered to copy-trade their successful strategies.
After six months, and despite all the team's efforts, these scams and new ones remain active on Telegram. No Telegram representative has reached back.
Telegram's Wild West
Telegram's significance in the trading community cannot be overstated. With its large-scale channels and bot integrations, it has become a go-to platform for traders seeking real-time information and community engagement. Our verified channel, “FXStreet Forex News,” delivers timely news to almost 100,000 traders daily in the messaging app.
This popularity—and the lack of moderation and policing—has made the platform a breeding ground for scams. A joint survey by Finance Magnates and FXStreet found that 60.09% of traders who fell victim to scams on Telegram lost funds, making it the platform with the highest “success rate” for scammers.
Our unsuccessful efforts to prevent scammers from thriving on the platform highlight Telegram's lack of care in protecting its users.
Freedom of Harm
For several days, pundits have been discussing the “true motives” behind Durov’s arrest and accusations—be it geopolitical plays, attacks on privacy and free speech, or national security concerns.
No expert, though, even the most staunch Telegram defender, is arguing that the underlying accusations are untrue.
I love Telegram and all the positive innovations it has brought—from large-scale groups to embracing cryptocurrency—but I refuse to accept the problems it breeds as inevitable.
Telegram reached out to FXStreet to fight back against a “likely hoax” affecting its name. Why wouldn’t it also react to proven frauds happening on its platform?
Back in March, I argued here on Finance Magnates that Telegram was an ideal playground for scammers, and added: “Telegram should take action or take responsibility for what happens on its platform.”
I hope Durov regains his freedom of movement soon. At the same time, I hope Telegram takes responsibility and does its best to free users from harm and scams.
Pere is the co-CEO of FXStreet, where he oversees the editorial, analytical and marketing areas. With over a decade of experience in the financial services sector, he is committed to empowering independent traders with the insights and tools they need to confidently navigate the financial markets.
A graduate in Advertising and Public Relations from the Universitat Autònoma de Barcelona, Pere combines his expertise in communication with a passion for understanding how financial markets tick.
Outside work, he enjoys outdoor activities with his family in the beautiful Catalan landscapes.
Voting Underway for FMAA - The Industry’s Most Transparent Awards
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
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.
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🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage.
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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
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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Don't miss out on our latest videos, interviews, and event coverage.
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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Follow FMevents across our social media platforms for news, insights, and event updates.
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Don't miss out on our latest videos, interviews, and event coverage.
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
📣 Stay updated with the latest in finance and trading!
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