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As such, the SC would like to remind investors to always exercise caution when evaluating investment opportunities, especially those promising unrealistically high returns with little or no risk. Investors should also never deposit money into someone’s personal bank account if instructed. The Securities and Exchange Board of India (Sebi) had carried out a similar exercise in 2017 in a matter related to circulation of messages through WhatsApp. This provided opportunity to their linked entities to offload their shares at higher prices and make significant profits at the cost of unsuspecting retail investors. Messages are not fully encrypted by default. That means the company could, in theory, access the content of the messages, or be forced to hand over the data at the request of a government. At this point, however, Durov had already been working on Telegram with his brother, and further planned a mobile-first social network with an explicit focus on anti-censorship. Later in April, he told TechCrunch that he had left Russia and had “no plans to go back,” saying that the nation was currently “incompatible with internet business at the moment.” He added later that he was looking for a country that matched his libertarian ideals to base his next startup.
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