As the war in Ukraine rages, the messaging app Telegram has emerged as the go-to place for unfiltered live war updates for both Ukrainian refugees and increasingly isolated Russians alike. "The inflation fire was already hot and now with war-driven inflation added to the mix, it will grow even hotter, setting off a scramble by the worldโs central banks to pull back their stimulus earlier than expected," Chris Rupkey, chief economist at FWDBONDS, wrote in an email. "A spike in inflation rates has preceded economic recessions historically and this time prices have soared to levels that once again pose a threat to growth." 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. Telegram was co-founded by Pavel and Nikolai Durov, the brothers who had previously created VKontakte. VK is Russiaโs equivalent of Facebook, a social network used for public and private messaging, audio and video sharing as well as online gaming. In January, SimpleWeb reported that VK was Russiaโs fourth most-visited website, after Yandex, YouTube and Googleโs Russian-language homepage. In 2016, Forbesโ Michael Solomon described Pavel Durov (pictured, below) as the โMark Zuckerberg of Russia.โ Perpetrators of such fraud use various marketing techniques to attract subscribers on their social media channels.
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