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. Just days after Russia invaded Ukraine, Durov wrote that Telegram was "increasingly becoming a source of unverified information," and he worried about the app being used to "incite ethnic hatred." 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. Pavel Durov, a billionaire who embraces an all-black wardrobe and is often compared to the character Neo from "the Matrix," funds Telegram through his personal wealth and debt financing. And despite being one of the world's most popular tech companies, Telegram reportedly has only about 30 employees who defer to Durov for most major decisions about the platform. Anastasia Vlasova/Getty Images
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