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<p>The post <a href="https://coinpedia.org/news/toncoin-plunges-20-after-telegram-ceos-arrest-3-hour-network-transaction-halt/" rel="noopener noreferrer nofollow">Toncoin Plunges 20% After Telegram CEO’s Arrest &amp; 4-Hour Network Transaction Halt</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Toncoin (TON) has experienced a rough ride over the past five days after Telegram’s co-founder and CEO, Pavel Durov, was arrested in Paris. Due to the strong connection between Toncoin and Telegram, the market reacted sharply, causing TON’s price to <a href="https://coinpedia.org/news/toncoin-ton-price-crashes-20-after-shocking-arrest-of-founder-pavel-durov/" rel="noopener noreferrer nofollow">fall by more than 20%</a> since the arrest. Additionally, Ton has seen a halt of network transactions for more than 4 hours. This sudden decline has worried many investors about the token’s future.</p>
<h2 class="wp-block-heading" id="h-ton-blockchain-faces-transaction-halt">TON Blockchain Faces Transaction Halt</h2>
<p>The TON blockchain, known for its speed and reliability, recently experienced an unexpected halt. According to Lookonchain, a blockchain analytics platform, the TON network stopped processing transactions for four hours straight, causing a complete pause in its normal operations.</p>
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   <p><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" style="height: 1em; max-height: 1em;">The <a href="https://twitter.com/ton_blockchain?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@ton_blockchain</a> is down for more than 4 hours.<a href="https://t.co/QV0KeZygv7" rel="noopener noreferrer nofollow">https://t.co/QV0KeZygv7</a> <a href="https://t.co/zcKcFMbrpK" rel="noopener noreferrer nofollow">pic.twitter.com/zcKcFMbrpK</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1828624224891871513?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 28, 2024</a>
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<p>This sudden stop has led to various speculations in the community. Some think it might be due to a technical glitch or routine maintenance, while others worry it could be a more serious problem.&nbsp;</p>
<p>The lack of a clear explanation from TON’s developers has added to the uncertainty, leaving users concerned and waiting for more information.</p>
<h2 class="wp-block-heading" id="h-telegram-ceo-arrested-in-france">Telegram CEO Arrested in France</h2>
<p>Pavel Durov, the founder and CEO of Telegram, <a href="https://coinpedia.org/news/vitalik-buterin-other-top-leaders-demand-release-of-telegrams-pavel-durov-after-arrest/" rel="noopener noreferrer nofollow">was arrested</a> on August 24 by French authorities, who did not initially provide a reason for the arrest. Later, the <a href="https://coinpedia.org/crypto-live-news/telegram-ceo-pavel-durovs-official-charges-announced/" rel="noopener noreferrer nofollow">French government stated</a> that Durov’s arrest was part of an investigation related to someone accused of sharing child sexual abuse material (CSAM), money laundering, drug trafficking, selling hacking tools, and not cooperating with law enforcement, among other crimes.</p>
<p>Telegram has responded by saying that its CEO has “nothing to hide.” The company has always claimed that it follows industry standards for moderating content. However, Durov’s arrest suggests that French authorities believe Telegram is not doing enough to stop illegal activities on its platform.</p>
<h2 class="wp-block-heading" id="h-toncoin-in-reaccumulation-phase">Toncoin In Reaccumulation Phase</h2>
<p>Following the arrest of Telegram founder Pavel Durov in France, Toncoin experienced a sharp decline, falling from $7 to its current price of $5.3. This drop has caught the attention of many analysts and traders, who see this as an opportunity to buy Toncoin at a lower price.</p>
<p>Coin Signals, a well-known group of crypto analysts on X, recently suggested that Toncoin could be in a reaccumulation phase. They believe that buying at the current price could lead to a 3x to 5x return if the market improves.</p>
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   <p>Re-Accumulating <a href="https://twitter.com/hashtag/TON?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#TON</a> between 200 EMA – 365 EMA Zone.<br><br>Durev knew about the arrest warrant and was probably prepared for it before entering France. It's likely that he'll be released soon.<br><br>Buying more TON in this range : $5.7 – $4.7<br><br>Target : 3x – 5x <a href="https://t.co/6X8APr6Bm2" rel="noopener noreferrer nofollow">pic.twitter.com/6X8APr6Bm2</a></p>— Coin Signals (@CoinSignals_) <a href="https://twitter.com/CoinSignals_/status/1827719617801867631?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 25, 2024</a>
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<p>They think that the price drop following Durov’s arrest might have been an overreaction. This could create a good opportunity for investors who are willing to take on some risk. As of now, <a href="https://markets.coinpedia.org/toncoin/" rel="noopener noreferrer nofollow">Toncoin is trading at $5.3</a>, showing a nearly 2% drop in the last 24 hours, with a market cap of $13.4 billion.</p>

Toncoin Plunges 20% After Telegram CEO’s Arrest & 4-Hour Network Transaction Halt

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