The perpetrators use various names to carry out the investment scams. They may also impersonate or clone licensed capital market intermediaries by using the names, logos, credentials, websites and other details of the legitimate entities to promote the illegal schemes. Artem Kliuchnikov and his family fled Ukraine just days before the Russian invasion. On Feb. 27, however, he admitted from his Russian-language account that "Telegram channels are increasingly becoming a source of unverified information related to Ukrainian events." The gold standard of encryption, known as end-to-end encryption, where only the sender and person who receives the message are able to see it, is available on Telegram only when the Secret Chat function is enabled. Voice and video calls are also completely encrypted. "Markets were cheering this economic recovery and return to strong economic growth, but the cheers will turn to tears if the inflation outbreak pushes businesses and consumers to the brink of recession," he added.
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