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In December 2021, Sebi officials had conducted a search and seizure operation at the premises of certain persons carrying out similar manipulative activities through Telegram channels. 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. Messages are not fully encrypted by default. That means the company could, in theory, access the content of the messages, or be forced to hand over the data at the request of a government. Individual messages can be fully encrypted. But the user has to turn on that function. It's not automatic, as it is on Signal and WhatsApp. 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.
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