A cryptocurrency linked to Telegram has taken a big hit recently. It lost about $2.7 billion in market value after its CEO, Pavel Durov, was detained.

The token, called Toncoin, is part of The Open Network. Its value dropped by more than 20% following reports that Durov was taken into custody at a Paris airport. He’s suspected of not doing enough to prevent the criminal use of Telegram.

This news has created a lot of uncertainty in the market. As a result, Toncoin's value has decreased by 16%. People are understandably concerned about how this situation might unfold.

In short, the recent events have significantly impacted the sentiment surrounding this digital asset. Investors are watching closely as things develop.