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. Following this, Sebi, in an order passed in January 2022, established that the administrators of a Telegram channel having a large subscriber base enticed the subscribers to act upon recommendations that were circulated by those administrators on the channel, leading to significant price and volume impact in various scrips. Now safely in France with his spouse and three of his children, Kliuchnikov scrolls through Telegram to learn about the devastation happening in his home country. Oleksandra Matviichuk, a Kyiv-based lawyer and head of the Center for Civil Liberties, called Durov’s position "very weak," and urged concrete improvements. "Like the bombing of the maternity ward in Mariupol," he said, "Even before it hits the news, you see the videos on the Telegram channels."
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