On August 26th, according to Bloomberg, the digital asset market value of the blockchain project related to Telegram Messenger LLP has shrunk by about $2.7 billion, reflecting the uncertainty caused by the detention of Pavel Durov, co-founder of Telegram. According to reports, Pavel Durov was detained at Paris airport on Saturday on suspicion of failing to take measures to prevent Telegram from being used by criminals. Subsequently, the token Toncoin (TON) of The Open Network fell more than 20%.

According to data compiled by Bloomberg, as of 10:36 am Singapore time on Monday, TON has narrowed some of its decline, trading at $5.69, but the asset still fell 16% due to the ongoing Durov incident. Richard Galvin, co-founder of hedge fund DACM, said it is "too early" to judge what long-term impact Durov's detention will have on Telegram. The fund bought TON tokens in a private placement in early 2023. He added that the market reaction over the weekend "temporarily factored this uncertainty into the TON price".

Data from DefiLlama shows that the value of assets locked on the TON blockchain has soared to a peak of $1.1 billion last month, but this number has now fallen to $661 million. According to CoinGecko, Toncoin's price has more than doubled in the past year, and the market value of the token is currently about $14.4 billion.