Toncoin

Cyber

Encrypted messaging app Telegram facing investigations around the globe after the arrest of CEO Pavel Durov last month. South Korean police have now launched a probe into Telegram to investigate whether the messaging app has helped spread sexually explicit deepfake content. Traders anticipate a further fall in Toncoin price on weak technical chart woes. 
<h2 id="telegram-now-under-investigation-in-south-korea">Telegram Now Under Investigation in South Korea</h2> 
Amid the selloff pressure on Toncoin price, messaging app Telegram is now under investigation by South Korean police, as per a <a rel="nofollow" href="https://www.reuters.com/world/asia-pacific/south-korea-police-launch-probe-into-telegram-over-online-sex-crimes-yonhap-2024-09-02/" target="_blank">Reuters report</a> on September 2. The police will investigate potential online sex crimes on the platform, but the South Korean Cyber Investigation Bureau declined to comment on the report. 
Local news agency Yonhap quoted Woo Jong-soo, head of the National Office of Investigation, revealing that the police has launched a preliminary investigation into the instant messaging service platform Telegram on suspicions of abetting deepfake sex crimes. 
“As France has done, the Seoul Metropolitan Police Agency launched an internal investigation into the corporate entity of Telegram before officially booking it,” Woo said. 
The probe started after public and political outrage over digital deepfake pornography featuring South Korean women. The local media reported that such content is typically available in Telegram chatrooms. This has fueled further selloff pressure on Toncoin price. 
The South Korean police plan to collaborate with French authorities and other institutions to find methods for investigating Telegram. 
Telegram is also under probe in the EU countries and other nations such as India and Indonesia. Crypto investors and VC firms believe the incident is gradually turning into a <a href="https://coingape.com/is-telegram-ceo-pavel-durov-saga-another-black-swan-event-risking-market-crash/" target="_blank" rel="noopener">crypto Black Swan Event</a>. 
<h2 id="toncoin-price-to-fall-below-5">Toncoin Price to Fall Below $5?</h2> 
TON price fell 3% in the past 24 hours, with the price currently trading below $5.20. The 24-hour low and high are $5.12 and $5.39, respectively. Furthermore, the trading volume has decreased by 5% in the last 24 hours, indicating a decline in interest among traders. 
<img decoding="async" class="aligncenter wp-image-214970" src="https://coingape.com/wp-content/uploads/2024/09/TONCOINUSD_2024-09-02_13-16-14-1224x464.png" alt="Toncoin price" width="804" height="305" srcset="https://coingape.com/wp-content/uploads/2024/09/TONCOINUSD_2024-09-02_13-16-14-1224x464.png 1224w, https://coingape.com/wp-content/uploads/2024/09/TONCOINUSD_2024-09-02_13-16-14-300x114.png 300w, https://coingape.com/wp-content/uploads/2024/09/TONCOINUSD_2024-09-02_13-16-14-768x291.png 768w, https://coingape.com/wp-content/uploads/2024/09/TONCOINUSD_2024-09-02_13-16-14-1536x582.png 1536w, https://coingape.com/wp-content/uploads/2024/09/TONCOINUSD_2024-09-02_13-16-14-150x57.png 150w, https://coingape.com/wp-content/uploads/2024/09/TONCOINUSD_2024-09-02_13-16-14.png 1694w" sizes="(max-width: 804px) 100vw, 804px"> 
Toncoin price is trading below also trading below 200-DMA (blue) after the price dropped below 50-DMA and 100-DMA recently. The major support is near the $5 psychological level if the $5.1 support level breaks in the coming days. 
The price needs to rebound above $5.5 to set a recovery path as TON blockchain by Telegram processed over 46 million transactions last week, as per <a rel="nofollow" href="https://x.com/intotheblock/status/1830508213000605849" target="_blank">IntoTheBlock data</a>. 
The post <a href="https://coingape.com/will-toncoin-price-fall-below-5-telegram-under-probe-s-korea/">Will Toncoin Price Fall Below $5 As Telegram Under Probe By S. Korea?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Will Toncoin Price Fall Below $5 As Telegram Under Probe By S. Korea?

Table of Contents

Coingape News Media

Other articles published on Sep 2, 2024

Cardano Successfully Launches Chang Hard Fork, Ushering in Decentralized Governance

Ripple’s Top Lawyer Warns SEC Against Deceiving Judges

Metaplanet Partners with SBI for Bitcoin Services

Amazon to revamp Alexa with Anthropic's Claude AI model: report

Cardano’s Chang Update Activated: A New Era for ADA Governance and Scalability

Binance and CZ Face Lawsuit in Seattle Federal Court Over Alleged Money Laundering Practices

Join our free newsletter for daily crypto updates!