In December 2021, Sebi officials had conducted a search and seizure operation at the premises of certain persons carrying out similar manipulative activities through Telegram channels. Perpetrators of such fraud use various marketing techniques to attract subscribers on their social media channels. In addition, Telegram's architecture limits the ability to slow the spread of false information: the lack of a central public feed, and the fact that comments are easily disabled in channels, reduce the space for public pushback. In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies. At the start of 2018, the company attempted to launch an Initial Coin Offering (ICO) which would enable it to enable payments (and earn the cash that comes from doing so). The initial signals were promising, especially given Telegram’s user base is already fairly crypto-savvy. It raised an initial tranche of cash – worth more than a billion dollars – to help develop the coin before opening sales to the public. Unfortunately, third-party sales of coins bought in those initial fundraising rounds raised the ire of the SEC, which brought the hammer down on the whole operation. In 2020, officials ordered Telegram to pay a fine of $18.5 million and hand back much of the cash that it had raised.
from cn
