These entities are reportedly operating nine Telegram channels with more than five million subscribers to whom they were making recommendations on selected listed scrips. Such recommendations induced the investors to deal in the said scrips, thereby creating artificial volume and price rise. The Russian invasion of Ukraine has been a driving force in markets for the past few weeks. The regulator said it has been undertaking several campaigns to educate the investors to be vigilant while taking investment decisions based on stock tips. He said that since his platform does not have the capacity to check all channels, it may restrict some in Russia and Ukraine "for the duration of the conflict," but then reversed course hours later after many users complained that Telegram was an important source of information. Two days after Russia invaded Ukraine, an account on the Telegram messaging platform posing as President Volodymyr Zelenskiy urged his armed forces to surrender.
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