Telegram users are able to send files of any type up to 2GB each and access them from any device, with no limit on cloud storage, which has made downloading files more popular on the platform. The Dow Jones Industrial Average fell 230 points, or 0.7%. Meanwhile, the S&P 500 and the Nasdaq Composite dropped 1.3% and 2.2%, respectively. All three indexes began the day with gains before selling off. Since January 2022, the SC has received a total of 47 complaints and enquiries on illegal investment schemes promoted through Telegram. These fraudulent schemes offer non-existent investment opportunities, promising very attractive and risk-free returns within a short span of time. They commonly offer unrealistic returns of as high as 1,000% within 24 hours or even within a few hours. The Securities and Exchange Board of India (Sebi) had carried out a similar exercise in 2017 in a matter related to circulation of messages through WhatsApp. In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies.
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