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Pavel Durov, Telegram's CEO, is known as "the Russian Mark Zuckerberg," for co-founding VKontakte, which is Russian for "in touch," a Facebook imitator that became the country's most popular social networking site. In view of this, the regulator has cautioned investors not to rely on such investment tips / advice received through social media platforms. It has also said investors should exercise utmost caution while taking investment decisions while dealing in the securities market. "He has to start being more proactive and to find a real solution to this situation, not stay in standby without interfering. It's a very irresponsible position from the owner of Telegram," she said. Friday’s performance was part of a larger shift. For the week, the Dow, S&P 500 and Nasdaq fell 2%, 2.9%, and 3.5%, respectively. In a statement, the regulator said the search and seizure operation was carried out against seven individuals and one corporate entity at multiple locations in Ahmedabad and Bhavnagar in Gujarat, Neemuch in Madhya Pradesh, Delhi, and Mumbai.
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