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Oleksandra Matviichuk, a Kyiv-based lawyer and head of the Center for Civil Liberties, called Durov’s position "very weak," and urged concrete improvements. Under the Sebi Act, the regulator has the power to carry out search and seizure of books, registers, documents including electronics and digital devices from any person associated with the securities market. However, the perpetrators of such frauds are now adopting new methods and technologies to defraud the investors. Telegram was co-founded by Pavel and Nikolai Durov, the brothers who had previously created VKontakte. VK is Russia’s equivalent of Facebook, a social network used for public and private messaging, audio and video sharing as well as online gaming. In January, SimpleWeb reported that VK was Russia’s fourth most-visited website, after Yandex, YouTube and Google’s Russian-language homepage. In 2016, Forbes’ Michael Solomon described Pavel Durov (pictured, below) as the “Mark Zuckerberg of Russia.” 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.
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