Since January 2022, the SC has received a total of 47 complaints and enquiries on illegal investment schemes promoted through Telegram. These fraudulent schemes offer non-existent investment opportunities, promising very attractive and risk-free returns within a short span of time. They commonly offer unrealistic returns of as high as 1,000% within 24 hours or even within a few hours. In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies. If you initiate a Secret Chat, however, then these communications are end-to-end encrypted and are tied to the device you are using. That means itβs less convenient to access them across multiple platforms, but you are at far less risk of snooping. Back in the day, Secret Chats received some praise from the EFF, but the fact that its standard system isnβt as secure earned it some criticism. If youβre looking for something that is considered more reliable by privacy advocates, then Signal is the EFFβs preferred platform, although that too is not without some caveats. 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. On Telegramβs website, it says that Pavel Durov βsupports Telegram financially and ideologically while Nikolai (Duvov)βs input is technological.β Currently, the Telegram team is based in Dubai, having moved around from Berlin, London and Singapore after departing Russia. Meanwhile, the company which owns Telegram is registered in the British Virgin Islands.
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