Oh no. There’s a certain degree of myth-making around what exactly went on, so take everything that follows lightly. Telegram was originally launched as a side project by the Durov brothers, with Nikolai handling the coding and Pavel as CEO, while both were at VK. 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. These administrators had built substantial positions in these scrips prior to the circulation of recommendations and offloaded their positions subsequent to rise in price of these scrips, making significant profits at the expense of unsuspecting investors, Sebi noted. Telegram boasts 500 million users, who share information individually and in groups in relative security. But Telegram's use as a one-way broadcast channel — which followers can join but not reply to — means content from inauthentic accounts can easily reach large, captive and eager audiences. 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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