Crypto Trader Rakes in Massive Profits from TON Ecosystem Amidst Pavel Durov’s Arrest
A savvy crypto trader has registered impressive gains by capitalizing on meme tokens within the TON ecosystem, despite the recent arrest of Telegram CEO Pavel Durov. The trader’s most notable success came from a 12x profit made by selling Resistance Dog (REDO) tokens, a meme coin linked to the TON network. Following the rebranding of the TON Blockchain’s logo to mirror the REDO token, the token’s value surged by an astounding 200%.
This strategic move allowed the trader to sell off 881,000 REDO tokens, netting a substantial profit of 107,275 SOL, equivalent to approximately $606,000. This transaction not only represented a 12x return on the trader’s initial investment but also stands as one of the most lucrative trades within the TON ecosystem, according to data from TonViewer.
The recent price spike was driven by TON Blockchain’s adoption of the Resistance Dog logo as a show of support for Pavel Durov, who was arrested in France. The token’s price soared to a peak of $0.94, offering a profitable exit point for several traders. However, amidst the excitement, some community members began shifting their focus to other tokens as scrutiny around Telegram intensified.
The trader’s success was not limited to REDO alone. He also made significant profits from other meme coins within the TON ecosystem. For instance, he gained 5,207 TON, worth around $29,400, by trading Ton Inu (TINU), achieving a remarkable 35x return. Additionally, he secured 3,118 TON, valued at $17,600, from trades involving Paper Plane (PLANE), marking an impressive 62x return. Across 11 meme coin trades, the trader maintained a win rate of 54.5%, accumulating a total profit of 115,387 TON, which equates to approximately $652,000, according to blockchain analytics firm Lookonchain.
Pavel Durov’s Arrest Sparks Public Outrage
The arrest of Telegram’s CEO, Pavel Durov, in France has sparked widespread controversy, drawing sharp reactions from influential tech leaders and public figures. Durov was detained on August 25 at Le Bourget airport near Paris, facing allegations of facilitating criminal activities through Telegram. The arrest sent shockwaves through the TON ecosystem, causing its native token, Toncoin, to plummet by over 12% on the same day.
French authorities have charged Durov with a range of serious offenses, including terrorism, money laundering, drug trafficking, and the distribution of illegal content. They argue that Telegram’s lack of moderation has made it a hub for organized crime.
In the wake of Durov’s arrest, prominent figures such as Elon Musk have voiced strong support for the embattled CEO. Musk, the CEO of Tesla, criticized the situation, pointing out inconsistencies in law enforcement, saying:
“Instagram has a massive child exploitation problem, but no arrest for Zuck, as he censors free speech and gives governments backdoor access to user data.”
Political figures like Robert F. Kennedy Jr. also condemned the arrest, with Kennedy tweeting, “France just arrested Pavel Durov… The need to protect free speech has never been more urgent.”
In response to the growing scrutiny within the TON ecosystem, Telegram launched the #FREEDUROV campaign, which quickly gained momentum with backing from various celebrities and tech leaders. Additionally, Tron founder Justin Sun pledged $1 million towards Durov’s legal defense, provided there is sufficient community support. Andrew Tate also weighed in, questioning the actions of French law enforcement.
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