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A project of our size needs at least a few hundred million dollars per year to keep going,” Mr. Durov wrote in his public channel on Telegram late last year. “While doing that, we will remain independent and stay true to our values, redefining how a tech company should operate.

Telegram has exploded as a hub for cybercriminals looking to buy, sell and share stolen data and hacking tools, new research shows, as the messaging app emerges as an alternative to the dark web.An investigation by cyber intelligence group Cyberint, together with the Financial Times, found a ballooning network of hackers sharing data leaks on the popular messaging platform, sometimes in channels with tens of thousands of subscribers, lured by its ease of use and light-touch moderation.Read more from HK