Bitcoins, Telegram and Security

[mendace]

What do you mean by hacked?  If you talk to me about how you can log in with another user's number, that doesn't mean hacking the software but simply having made a good catch, while corrupting the software is quite different and it doesn't seem like they've succeeded yet.  Basically it is safe but I prefer to use other methods for my bitcoins.

Haven't you heard yet telegram hacking? telegram hacking is not a big deal for hackers. Hacker using malware to hack all your pc including twitter and telegram also. I was also saying this that no one can login to my telegram account until my phone number steal by someone but hacker hacked my account and deleted my big groups without my permission.
I have not hsed Telegram wallet so far but i have one question that what will happen of any transaction failed or any issue happened. whom we would contact if this happens?

Yes, I've heard of it, it's called zarazabot, it's a malware that targets many browsers, the most based on chromium and is able to detect all the credentials saved on the PC and also capture the active browser screens.  So if you got this malware you're pretty much screwed.

[justdimin]

The @wallet web interface now enables users to buy Bitcoin using a bank card or the P2P market in the “Buy & Sell” section. Additionally, the platform’s updated “Exchange” feature instantly swaps Bitcoin, Tether (USDT), and Telegram Open Network (TON) with each other.

Ok so I also have doubts about it. Does this mean that apart from buying with the bank card (KYC) you can make P2P trades without KYC? It should be so, I imagine, as Telegram sells itself as being very respectful of privacy. I don't use Telegram much nor do I know how it works, but I welcome it if it is implemented that way.

I think you are giving your bank card so that is default as KYC as it gets. People can find who you are from your bank card without a doubt, not that you are giving that to anyone, but at the very least the other side is open. So if telegram doesn't share that you used that card to buy, the bank could share that you bought from telegram instead, so the reverse KYC works there.

Remember, the card is tied to a bank, and you can definitely use a debit card you bought from someone so it may not have your name on it, but what are you going to use to buy that? Bitcoin? Using bitcoin to buy anon debit card to use for buying bitcoin doesn't really make sense. Hence, it is obvious that KYC will be out there, you will be giving that info to the bank, even if you are not giving it to telegram.

[summonerrk]

Telegram messaging app users can now purchase, withdraw, and exchange Bitcoin (BTC) through the Wallet bot and its associated services.

This move, announced on April 21, builds upon Telegram’s existing services related to cryptocurrencies, but it is noteworthy that the Wallet bot was created by a third-party developer using Telegram’s open bot API.

The @wallet web interface now enables users to buy Bitcoin using a bank card or the P2P market in the “Buy & Sell” section. Additionally, the platform’s updated “Exchange” feature instantly swaps Bitcoin, Tether (USDT), and Telegram Open Network (TON) with each other.

This development is a significant addition to Telegram’s cryptocurrency services, which are already widely used within the app. Telegram’s open API allows developers to create their own crypto-related bots, which can be used without any direct involvement from Telegram.

My Question; How secured is this project? considering the facts that telegram can be hack with some sophisticated softwares.

When I read this news in my news feed, I immediately thought about the safety of such a wallet. Just now, in a neighboring topic, I was arguing about which of the reputable wallets is better. At the same time, having studied the topic well, I realized that partially all of them do not provide complete security. For example, did you know that trust wallet is generally bad with security? but Binance oversees it. So, returning to the topic of the topic: is the telegram bot safe? Of course not, even if the hardware wallets are not safe. Sending money to a bot is the same as giving it to another person.

[NotATether]

My Question; How secured is this project? considering the facts that telegram can be hack with some sophisticated softwares.

It is hardly secure. Not really from a technical point of view, but from a social engineering standpoint.

As you probably know, telegram is a haven and congregation point for crypto scammers. So the first place they are going to target now is all of the bitcoins in the internal wallet.

Also, if somebody steals your phone and it has Telegram, they will also try to drain out all the bitcoins from the Telegram wallet.

[tbct_mt2]

Also, if somebody steals your phone and it has Telegram, they will also try to drain out all the bitcoins from the Telegram wallet.

I guess they can not drain out our bitcoins if they get our phone with a condition that we don't store other layers of protection on that phone.

I don't dig to see how Bitcoin trading and withdrawal on Telegram is or will be but I guess it is similar to withdrawal from centralized exchanges, we will need 2FA code or confirmation code in email in order to complete our withdrawal request.

You are right about that risk. If I have an account on a centralized exchange, I log in it on my phone. On the phone, I also log in my email which was used to register my exchange account. On my phone, I also have my 2FA application. If anyone steal my phone successfully, all my coins will be stolen easily.

[rat03gopoh]

My Question; How secured is this project? considering the facts that telegram can be hack with some sophisticated softwares.

Too many bad experiences in the past. Telegram itself can be flawed, its history can be manipulated without a trace even if it claims to run on open source automated (bot) resources. With just a few touches, the bot can change the protocol.
In essence, bitcoin users are strongly discouraged from making deals via telegram, period.

[fadhilz123]

Securing is a process, and all systems in the world today have potential flaws and can be attacked at any time, which is why Microsoft Bug Hunter exists. We shouldn't worry too much about this.

Weaknesses in the system are things that need attention and also need to be worried about because security is the main thing that must be owned by any system that we use, because this is one way to avoid attacks that we don't want on the system that we use every day, so there is no reason not to worry about security.

I disagree, security is the most important thing these days, as we spend most of our time working and storing assets online. The best way is to stay away from centralized services, the less you depend on them, the more secure you become. I hardly use telegram, so I know about these news and I won't use them either.

In essence, for the problem of storing any assets, it remains security that must be of particular concern and main concern. Because storing in random places without seeing how the security level of the devices we use is also very wrong because weaknesses are things that are very vulnerable to attack by irresponsible people.

[Dave1]

My Question; How secured is this project? considering the facts that telegram can be hack with some sophisticated softwares.

To be fair, every services has it's pros and cons, and for crypto, it's really a dangerous world for us because even if the project assures that it's all secure and that it can't be hacked, sooner or later hackers are going to find loopholes or any kind of attacks that can give them advantage specially in Telegram.

So for me I will be cautious, even prior, Telegram has history of hacks or at least user accounts been breached. And most likely, we will hear some kind security concerns and hopefully it will not be that bad that everyone's account will be affected with the @web wallet interface.

[kryptqnick]

I come from a country where Telegram is the most popular messenger and something often used instead of social media in general. I use Telegram quite a lot for communications with various friends and colleagues. However, I won't even think of using Telegram for buying/selling cryptos. Telegram isn't very secure, and using bots for something important seems risky to me. Also, a bot may report everything it receives from a user to the bot owner (as I've learned from a friend of mine who is experimenting with bots of his own and gets all the data everyone writes to the bot), which is concerning to me.

[mendace]

To be fair, every services has it's pros and cons, and for crypto, it's really a dangerous world for us because even if the project assures that it's all secure and that it can't be hacked, sooner or later hackers are going to find loopholes or any kind of attacks that can give them advantage specially in Telegram.

So for me I will be cautious, even prior, Telegram has history of hacks or at least user accounts been breached. And most likely, we will hear some kind security concerns and hopefully it will not be that bad that everyone's account will be affected with the @web wallet interface.

It is best to avoid using the Telegram wallet for your Bitcoins but above all I don't understand why I should be interested in doing so when there are dozens of safer possibilities out there.  We are talking about your savings and I would never give anyone the management of mine considering that Bitcoin has really given us the possibility to manage them in total freedom

[The Cryptovator]

I did come across a message regarding the Telegram wallet, but I didn't feel compelled to use it or learn more about it. I am unsure whether it is a custodial or non-custodial wallet, as I already use a Ledger Nano X to store my cryptocurrency. I am confident in the security of my current storage method and do not see the need to use any other wallet, even for instant swaps. I have not read the entirety of the message sent by Telegram wallet, as I am simply not interested in it.

[drwhobox]

Too many bad experiences in the past. Telegram itself can be flawed, its history can be manipulated without a trace even if it claims to run on open source automated (bot) resources. With just a few touches, the bot can change the protocol.
In essence, bitcoin users are strongly discouraged from making deals via telegram, period.

Telegram bot itself is not safe to use. These bots can be controlled by hackers and with that your credit card and your detail is not safe there.
Although I didn't try the feature yet, but I think I am not going to try it soon, unless I need to use telegram to make payment or buy something.

[nara1892]

Telegram has several levels of security that I know to date, there are several conditions where number verification and even a double standard with Two-Step Verification still exist today so this will be a little better I think because as long as the cellular number is still used and entering the password when going into the new device will make the feeling of security even more guaranteed.

But even so, there must still be a factor of vigilance because clearly this is something very important to have and indeed for this one thing I still haven't traded there maybe even don't really intend to do something like that for now because it's quite comfortable to be on the trading platform with all the features which are of course more adequate than doing that on telegram.

[bosede1]

It was around last year when Telegram notify me of 2FA for the security of my Telegram app which I did, I know surely that before releasing any press concerning this they would have tried all things relating to security because they know what is at stake but I would prefer using my old method for purchasing till at least have seen how things worked out for them.

[Myleschetty]

My Question; How secured is this project? considering the facts that telegram can be hack with some sophisticated softwares.

There are already some botss or exchanges that offer the crypto trading service and wallet on Telegram years ago before the recent announcement that was hyped.
My point of vew about the service is, its never to be trusted since telegram is a centralized platform and apart from possible hack of the account can be manipulate, the telegram dev can also delete or ban user account just like how my account was deleted when i pm a crypto tumbler support.

[famososMuertos]

First of all, leave the alarmism, surely you have a wallet that you are using today, so there is danger there too. Telegram has been working with this wallet for some time.

The new news is that it has incorporated bitcoin, it is that simple.

You can do P2P exchanges like in any other wallet, so The Soup or novelty is that it is an addition to the Telegram social network, OP, it is something that some projects have done recently and as others have done in the past.

You have to be as careful as you are with your wallets, but mainly you have to understand if it is dex or cex.

Support or use things that you understand, there is no need to burn projects or burn at the stake for the simple fact of not understanding or repeating things that you read.

[blue Snow]

My Question; How secured is this project? considering the facts that telegram can be hack with some sophisticated softwares.

If you know that, then you must avoid that online wallet. I don't know why too many online application wallets growing up every day. They sell security and convenience but their application is not safe if we look at glance. Telegram has failed to sell their product long time ago, now they try another way to sell it well which I think will get the same results in the end.

[ajiz138]

It is hardly secure. Not really from a technical point of view, but from a social engineering standpoint.

As you probably know, telegram is a haven and congregation point for crypto scammers. So the first place they are going to target now is all of the bitcoins in the internal wallet.

Also, if somebody steals your phone and it has Telegram, they will also try to drain out all the bitcoins from the Telegram wallet.

Many are worried about how to store assets in the Telegram wallet that has been provided even though there is security where the owner can improve from passwords and also 2FA but on the other hand fraud on the bigger platform makes us not sure whether this will be safe as far as they use.

Everything is possible, if one day the cellphone is stolen, whatever they do, they can drain the bitcoin wallet and so they still don't use what Telegram has provided.

If there is something more secure specifically for bitcoin wallets why not just choose that, such as non-custodial wallets and also hardware wallets.

[duckalis]

This bot was released back in January 2022 and has had no security problems so far. But you should keep in mind that the bot is the responsibility of a third-party developer, just like the TON project. So treat this Wallet bot like any custodial wallet, that is, don’t store a lot of coins there.

[taufik123]

Not your keys, not your coins.
Seeing how Bitcoin addresses are generated I am very doubtful about the security of the wallet in Telegram.
We are not given any Seed Pharse and are only given Bitcoin Addresses. there is no other option to request a phrase.


And this is just like CEX, it is centralized and the user does not have full control. 
Some Bitcoin purchase options using P2P markets with credit card payments or payment options via BANK Accounts and of course must deposit the bank account address and real name of the user.


If this is said to be a big adoption, then it needs full control for users so that they don't lose control on the coins they have.
Whether it is safe or not also depends on the user because only the user's cell phone number can access the telegram.
Regarding the hacking problem, it is the security of each one.