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"We as Ukrainians believe that the truth is on our side, whether it's truth that you're proclaiming about the war and everything else, why would you want to hide it?," he said. The regulator said it had received information that messages containing stock tips and other investment advice with respect to selected listed companies are being widely circulated through websites and social media platforms such as Telegram, Facebook, WhatsApp and Instagram. 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. These administrators had built substantial positions in these scrips prior to the circulation of recommendations and offloaded their positions subsequent to rise in price of these scrips, making significant profits at the expense of unsuspecting investors, Sebi noted. These entities are reportedly operating nine Telegram channels with more than five million subscribers to whom they were making recommendations on selected listed scrips. Such recommendations induced the investors to deal in the said scrips, thereby creating artificial volume and price rise.
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