The digital asset market cap associated with blockchain projects related to Telegram Messenger LLP has shrunk by approximately $2.7 billion, reflecting the uncertainty caused by the arrest of Telegram co-founder Pavel Durov. It was reported that Durov was detained at Paris airport on Saturday for allegedly failing to take measures to prevent Telegram from being exploited by criminals. Since then, The Open Network's token Toncoin (TON) has fallen more than 20%. According to data compiled by Bloomberg, as of 10:36 AM Singapore time on Monday, TON had narrowed some of its losses and was trading at $5.69, but due to the ongoing developments around Durov's incident, the asset still fell by 16%. Richard Galvin, co-founder of hedge fund DACM, said it is too early to judge what long-term impact Durov's detention will have on Telegram. The fund had purchased TON tokens in a private round in early 2023. He added that the market reaction over the weekend 'temporarily priced in this uncertainty into the TON price.' Data from DefiLlama shows that the value of assets locked on the TON blockchain surged to a peak of $1.1 billion last month, but this figure has now fallen back to $661 million. According to CoinGecko, the price of Toncoin has more than doubled over the past year, and the current market capitalization of the token is approximately $14.4 billion.