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This provided opportunity to their linked entities to offload their shares at higher prices and make significant profits at the cost of unsuspecting retail investors. 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. Again, in contrast to Facebook, Google and Twitter, Telegram's founder Pavel Durov runs his company in relative secrecy from Dubai. On December 23rd, 2020, Pavel Durov posted to his channel that the company would need to start generating revenue. In early 2021, he added that any advertising on the platform would not use user data for targeting, and that it would be focused on “large one-to-many channels.” He pledged that ads would be “non-intrusive” and that most users would simply not notice any change. Oleksandra Matviichuk, a Kyiv-based lawyer and head of the Center for Civil Liberties, called Durov’s position "very weak," and urged concrete improvements.
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