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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. Right now the digital security needs of Russians and Ukrainians are very different, and they lead to very different caveats about how to mitigate the risks associated with using Telegram. For Ukrainians in Ukraine, whose physical safety is at risk because they are in a war zone, digital security is probably not their highest priority. They may value access to news and communication with their loved ones over making sure that all of their communications are encrypted in such a manner that they are indecipherable to Telegram, its employees, or governments with court orders. For example, WhatsApp restricted the number of times a user could forward something, and developed automated systems that detect and flag objectionable content. In addition, Telegram's architecture limits the ability to slow the spread of false information: the lack of a central public feed, and the fact that comments are easily disabled in channels, reduce the space for public pushback. "The result is on this photo: fiery 'greetings' to the invaders," the Security Service of Ukraine wrote alongside a photo showing several military vehicles among plumes of black smoke.
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