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Just days after Russia invaded Ukraine, Durov wrote that Telegram was "increasingly becoming a source of unverified information," and he worried about the app being used to "incite ethnic hatred." "And that set off kind of a battle royale for control of the platform that Durov eventually lost," said Nathalie Maréchal of the Washington advocacy group Ranking Digital Rights. "There are several million Russians who can lift their head up from propaganda and try to look for other sources, and I'd say that most look for it on Telegram," he said. The company maintains that it cannot act against individual or group chats, which are “private amongst their participants,” but it will respond to requests in relation to sticker sets, channels and bots which are publicly available. During the invasion of Ukraine, Pavel Durov has wrestled with this issue a lot more prominently than he has before. Channels like Donbass Insider and Bellum Acta, as reported by Foreign Policy, started pumping out pro-Russian propaganda as the invasion began. So much so that the Ukrainian National Security and Defense Council issued a statement labeling which accounts are Russian-backed. Ukrainian officials, in potential violation of the Geneva Convention, have shared imagery of dead and captured Russian soldiers on the platform. And indeed, volatility has been a hallmark of the market environment so far in 2022, with the S&P 500 still down more than 10% for the year-to-date after first sliding into a correction last month. The CBOE Volatility Index, or VIX, has held at a lofty level of more than 30.
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