Continuing its crackdown against entities allegedly involved in a front-running scam using messaging app Telegram, Sebi on Thursday carried out search and seizure operations at the premises of eight entities in multiple locations across the country. At its heart, Telegram is little more than a messaging app like WhatsApp or Signal. But it also offers open channels that enable a single user, or a group of users, to communicate with large numbers in a method similar to a Twitter account. This has proven to be both a blessing and a curse for Telegram and its users, since these channels can be used for both good and ill. Right now, as Wired reports, the app is a key way for Ukrainians to receive updates from the government during the invasion. In a message on his Telegram channel recently recounting the episode, Durov wrote: "I lost my company and my home, but would do it again – without hesitation." At this point, however, Durov had already been working on Telegram with his brother, and further planned a mobile-first social network with an explicit focus on anti-censorship. Later in April, he told TechCrunch that he had left Russia and had “no plans to go back,” saying that the nation was currently “incompatible with internet business at the moment.” He added later that he was looking for a country that matched his libertarian ideals to base his next startup. Under the Sebi Act, the regulator has the power to carry out search and seizure of books, registers, documents including electronics and digital devices from any person associated with the securities market.
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