The perpetrators use various names to carry out the investment scams. They may also impersonate or clone licensed capital market intermediaries by using the names, logos, credentials, websites and other details of the legitimate entities to promote the illegal schemes. The Russian invasion of Ukraine has been a driving force in markets for the past few weeks. 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. "Russians are really disconnected from the reality of what happening to their country," Andrey said. "So Telegram has become essential for understanding what's going on to the Russian-speaking world." But Telegram says people want to keep their chat history when they get a new phone, and they like having a data backup that will sync their chats across multiple devices. And that is why they let people choose whether they want their messages to be encrypted or not. When not turned on, though, chats are stored on Telegram's services, which are scattered throughout the world. But it has "disclosed 0 bytes of user data to third parties, including governments," Telegram states on its website.
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