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Toncoin market cap loses $3 billion after Telegram founder’s arrest

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Telegram Messenger LLP’s co-founder, Pavel Durov , was arrested by French police on Saturday .

His arrest sparked a wave of panic selling among Toncoin traders.

The price dropped by as much as 25% on Sunday , hitting a historic low of $ 5.24 .

The current price drop mirrors the behavior of Binance's BNB token.