Becareful with telegram wallet!

[dkbit98]

For several times, it has been discussed here that we should avoid storing assets in custodial wallet in order to avoid lose of funds. Telegram as one of the controversial social media platform has enabled wallet feature on their app for premium users. I read a thread here sometimes back asking how secure and reliable it is to use telegram wallet and many users here kicked against it (I can't find the thread as reference).

This telegram cryptocurrency wallet app is not available only for premium users, it is available as @wallet to everyone with telegram account.
I never used this wallet and I don't plan to ever do it, especially knowing how many scammers are lurking around there and sending random messages.
I think that only purpose for creating this telegram wallet was because of pumping of their TON token 

[knowngunman]

This telegram cryptocurrency wallet app is not available only for premium users, it is available as @wallet to everyone with telegram account.
I never used this wallet and I don't plan to ever do it, especially knowing how many scammers are lurking around there and sending random messages.
I think that only purpose for creating this telegram wallet was because of pumping of their TON token 

Oh yes! After the post, I made some little research about it and I discovered that it is available for every telegram users to use at their will without having to verify the telegram account. I purposely create the wallet to have more information about it and just like normal wallet, it's very easy to create and even have P2P services. Perhaps, people opt in for this wallet for conveniency but I think security should be top priority before convenience.

Maybe, it work for them and give a significant value to their coin as a starter but I will still prefer to use external wallet even if I want to invest in their coin. Telegram itself as a media app has no good name or perception that will give someone assurance to feel save entrusting funds under their control. Prevention they say, is better than cure.

[Saint-loup]

This is a good explanation; the two wallets have a clear difference.

TON Space A non-custodial wallet is better than the Wallet, as the TON Space user can access and control his wallet through seed phrases even if his telegram account is banned. However, the downside of using these wallets is that they are centralized and operate according to regulatory requirements. If you read the article [Reviewing Transactions], it becomes clear that user transactions are fully reviewed by the wallet team, and it may take up to an hour to complete the review. They may also impose KYC or force the customer to provide documents such as proof of address and the source of funds.

Telegram wallets are undoubtedly a copy version of centralized platform wallets, so I do not see any advantage to using them despite the risks, delays, and user privacy disclosures that may leave them dissatisfied.

What you say, is about the custodial wallet, because it's a centralized service and it doesn't use a blockchain. But if you send transactions through TON Space the non-custodial wallet, they will be processed by the TON blockchain, so the transaction fees will be higher, but the TG team won't be able to control it and to block it. If they wanted to block your account you would just need to import your seed into any external wallet supporting this cryptocurrency anyway.

[Uhwuchukwu53]

I don't know how the Telegram wallet works and i don't care to know because it is not an option for me to store any coins. Telegram is one platform with so much cases of scam and fraud, and that alone is enough reason not to use it to keep any of your money. Even if you want to store shitcoins, there are better wallets to use, wallets that are non-custodial and open source like Unstoppable wallet, then there are others like trust wallet that are not open source, but a better option for shitcoins than telegram wallet.

Just as you said so to me , I develop hatred over what has to do with telegram after been a victim through airdrop why then telegram when there is all sort of best option such as self custodian wallet and many others too numerous to mention, I don't say is not good because another man food is another man's poison the truth is that for me I can't advise someone to use telegram wallet where such will come is when is the only option.

[qwertyup23]

Whoah this is very interesting! I mean, I never knew that Telegram offers a feature where it has a designated wallet tied down to your number? Has your friend tried reaching out to Telegram and ask regarding the details on why his number was banned? Is there any way for you to contact the CS of Telegram in order to have more information about this?

A huge platform such as Telegram can get into huge trouble if they banned the number without providing any details as to how it was banned in the first place. Good thing you posted this for awareness OP as this can be crucial especially to newbies who are naive when it comes to downloading wallets from sketchy websites and platforms.

According to this website¹, if your number was banned, then you must reach out to their CS immediately, to wit:

If Telegram has blocked your number incorrectly during the signup process, you can reach out directly for assistance. Start by messaging @smstelegram on Twitter with your mobile number for issues not related to login. This team can assist in English and Russian.

1 https://controlhippo.com/blog/unban-telegram-number/#:~:text=If%20Telegram%20has%20blocked%20your,assist%20in%20English%20and%20Russian.

[pawanjain]

For several times, it has been discussed here that we should avoid storing assets in custodial wallet in order to avoid lose of funds. Telegram as one of the controversial social media platform has enabled wallet feature on their app for premium users. I read a thread here sometimes back asking how secure and reliable it is to use telegram wallet and many users here kicked against it (I can't find the thread as reference).

This very morning, a colleague in one of our platform brought a telegram related issue to platform seeking for help. He created a wallet on the app and store some funds there but unfortunately Telegram banned his number from accessing their services and that means automatic lose of funds. I don't know if there's a faster way to appeal for unban but I also have the same issue for over a year now and effort to unban the number prove abortive.

snip

Creating a secure non custodial wallet won't take up to ten minutes or even less. I don't know the level of conveniences these unsecured wallets offer that people tend to be making such mistakes of using them for their asset storage. Not your keys, not your coins has been an anthem for as old as crypto exits but we turn deaf ears until things get worse before we learn. This is not only applicable to Telegram wallet but to all wallets which you have no control over the phrases. It is as good as if you have no asset because the custodian can deny you access at any time.

What surprises me is there are still people who bother to create accounts on such platforms.
Telegram has been the safe haven for scammers and I wouldn't even think for a second to open a crypto wallet in Telegram.
I wonder how and why would any person open a crypto wallet in such third party platforms whereas they can create a non-custodial wallet in less than 10 minutes by themselves.
Have people become so lazy or are they really unaware of creating crypto wallets ?

[Pmalek]

I didn't even know that Telegram offers a custodial wallet service. That's how much I care about things like that.

There is absolutely no need to mix apples and oranges. If you want to use Telegram as a chat service, fine, do that. Don't also make it your wallet of choice because it's convenient. If my fridge added a crypto wallet next week, I am not going to use it just because it holds my meat and beer. 

Stick to proven brands that are working and have been around a long time. Stay away from the new and flashy things until they have established a proven track record. And lastly, stay away from custodial services for storing your coins no matter who provides them.

[Bushdark]

I don't know how the Telegram wallet works and i don't care to know because it is not an option for me to store any coins. Telegram is one platform with so much cases of scam and fraud, and that alone is enough reason not to use it to keep any of your money. Even if you want to store shitcoins, there are better wallets to use, wallets that are non-custodial and open source like Unstoppable wallet, then there are others like trust wallet that are not open source, but a better option for shitcoins than telegram wallet.

Just as you said so to me , I develop hatred over what has to do with telegram after been a victim through airdrop why then telegram when there is all sort of best option such as self custodian wallet and many others too numerous to mention, I don't say is not good because another man food is another man's poison the truth is that for me I can't advise someone to use telegram wallet where such will come is when is the only option.

Since the emergence of telegram Airdrop, that was when the telegram created their wallet so that users would not have to use other wallets other their telegram accounts. The telegram wallet is a red flag for me and even though I would have to use it, I can not deposit uoto $10 in the wallet because i know that would be a big risk for me.
As telegram users, we have to learn from other people's mistakes so that we don't end up to do the same thing losing our funds too.

[dkbit98]

Oh yes! After the post, I made some little research about it and I discovered that it is available for every telegram users to use at their will without having to verify the telegram account. I purposely create the wallet to have more information about it and just like normal wallet, it's very easy to create and even have P2P services. Perhaps, people opt in for this wallet for conveniency but I think security should be top priority before convenience.

Note that this is fully custodial wallet and you have no real control over your funds, you can't even backup anything and you can't recover your funds in some other ton wallet!
I would not hold anything on this wallet, especially not Bitcoin and larger amount of coins, only reason is possible to spend few Ton tokens to buy their phone numbers.

[Saint-loup]

Since the emergence of telegram Airdrop, that was when the telegram created their wallet so that users would not have to use other wallets other their telegram accounts. The telegram wallet is a red flag for me and even though I would have to use it, I can not deposit uoto $10 in the wallet because i know that would be a big risk for me.
As telegram users, we have to learn from other people's mistakes so that we don't end up to do the same thing losing our funds too.

I think there is a misunderstanding. TG custodial wallet isn't supposed to be a holding wallet for safely holding your assets, it's deemed to be a service allowing to easily, for free and instantly send or receive cryptos from any TG user without even knowing his wallet address.
So it's sad to hear that, because there are nearly 1 billion users according to TG company, so it could be a great chance to introduce cryptos to many people who have never used them before. In addition TG didn't forget BTC because the wallet deals with BTC along with TON and USDT. So hundreds millions people could simply exchanges BTC without fees if they want. There are always risks when you use centralized/custodial services, it's the same for any platform using cryptos. So not wanting to deposit more than $10 is a little bit harsh IMO. This service could greatly enhance BTC adoption actually.

[Bulltard]

For several times, it has been discussed here that we should avoid storing assets in custodial wallet in order to avoid lose of funds. Telegram as one of the controversial social media platform has enabled wallet feature on their app for premium users. I read a thread here sometimes back asking how secure and reliable it is to use telegram wallet and many users here kicked against it (I can't find the thread as reference).

This very morning, a colleague in one of our platform brought a telegram related issue to platform seeking for help. He created a wallet on the app and store some funds there but unfortunately Telegram banned his number from accessing their services and that means automatic lose of funds. I don't know if there's a faster way to appeal for unban but I also have the same issue for over a year now and effort to unban the number prove abortive.

https://talkimg.com/images/2024/04/04/VrMLI.jpeg
https://talkimg.com/images/2024/04/04/Vrmqd.jpeg

Creating a secure non custodial wallet won't take up to ten minutes or even less. I don't know the level of conveniences these unsecured wallets offer that people tend to be making such mistakes of using them for their asset storage. Not your keys, not your coins has been an anthem for as old as crypto exits but we turn deaf ears until things get worse before we learn. This is not only applicable to Telegram wallet but to all wallets which you have no control over the phrases. It is as good as if you have no asset because the custodian can deny you access at any time.

your friend used the tg wallet which has no pk... but it's linked to a ton space wallet... which has a pk.
send funds to the second one, not to the first

[promise444c5]

But hey it wouldn't surprise me that Nigeria of all places has their phone numbers banned, because of their government's hostility towards cryptocurrency in general.

This was April ....
It's much more worst now to the extent of monitoring  our bank transactions

[erep]

I don't know how the Telegram wallet works and i don't care to know because it is not an option for me to store any coins. Telegram is one platform with so much cases of scam and fraud, and that alone is enough reason not to use it to keep any of your money. Even if you want to store shitcoins, there are better wallets to use, wallets that are non-custodial and open source like Unstoppable wallet, then there are others like trust wallet that are not open source, but a better option for shitcoins than telegram wallet.

Just as you said so to me , I develop hatred over what has to do with telegram after been a victim through airdrop why then telegram when there is all sort of best option such as self custodian wallet and many others too numerous to mention, I don't say is not good because another man food is another man's poison the truth is that for me I can't advise someone to use telegram wallet where such will come is when is the only option.

Since the emergence of telegram Airdrop, that was when the telegram created their wallet so that users would not have to use other wallets other their telegram accounts. The telegram wallet is a red flag for me and even though I would have to use it, I can not deposit uoto $10 in the wallet because i know that would be a big risk for me.
As telegram users, we have to learn from other people's mistakes so that we don't end up to do the same thing losing our funds too.

I've rarely monitored airdrop developments lately, but recently I found out about a wallet from the Telegram bot application, but I didn't really pay attention to the wallet from the official Telegram service, but we have to be careful to avoid cases that have been reported above that Telegram users have been banned without notification and causing users have lost assets on their telegram accounts, in my opinion the telegram application will lose its reputation if they don't solve the problem of users who have lost assets due to being banned without warning notifications.

[johnsaributua]

The simplicity of the app, which includes both messaging and payment, with its lightweight storage, should be a plus among similar messaging apps. As I recall, there is a telegram setting to stay logged in on mobile or desktop for several months, because my telegram number is active and I always top up my internet quota every month. But that's not it, in the wallet ton space (beta) there is a backup phrase, even though it's the same internally for the latest telegram I have used it, then I imported it into the external ton keeper, you can try other ones as well because the wallet type is quite varied for ton. So far I don't dare to put any assets even if it's only 1$ into a wallet that hasn't been backed up, because the habit will get used to large assets. It is better to be careful from the beginning, because with conditions like this, what is definitely requested is the active phone number linked and maybe it is entirely the owner's decision and responsibility. Hopefully your problem can be given a solution step and can solve this problem wisely.

[Belarge]

Since the emergence of telegram Airdrop, that was when the telegram created their wallet so that users would not have to use other wallets other their telegram accounts. The telegram wallet is a red flag for me and even though I would have to use it, I can not deposit uoto $10 in the wallet because i know that would be a big risk for me.
As telegram users, we have to learn from other people's mistakes so that we don't end up to do the same thing losing our funds too.

Telegram wallets is never safe for anyone, I repeat. Telegram is not safe for airdrops but this is precisely the acceptable platform most developers and team suggest for their airdrop projects. I know it's important to follow the rules but we should also know the fact that none of us will be able to undo our actions when we finally get scammed. It's hard to illustrate the system but we should come out heating the surface and becoming the very taste desirable for ourselves.

[knowngunman]

Note that this is fully custodial wallet and you have no real control over your funds, you can't even backup anything and you can't recover your funds in some other ton wallet!
I would not hold anything on this wallet, especially not Bitcoin and larger amount of coins, only reason is possible to spend few Ton tokens to buy their phone numbers.

This is my assumption from the beginning but some replies under this thread pointed out that there's back up phrase and you can use it to access the wallet outside telegram app eg on TON wallet. I don't know if there's anything I'm missing but I created the wallet after the initial post to have a first hand experience and after the completion of wallet creation, I couldn't find anything related to recovery keys. Perhaps, one has to manually request for the recovery keys before being issued but whatever the case, it's not an ideal thing to store valuable assets in such wallets.

The simplicity of the app, which includes both messaging and payment, with its lightweight storage, should be a plus among similar messaging apps. As I recall, there is a telegram setting to stay logged in on mobile or desktop for several months, because my telegram number is active and I always top up my internet quota every month. But that's not it, in the wallet ton space (beta) there is a backup phrase, even though it's the same internally for the latest telegram I have used it, then I imported it into the external ton keeper, you can try other ones as well because the wallet type is quite varied for ton.

Many replies here have been saying there's a back up phrase, how and where do you people find the back phrase that allows you to import it into external ton wallet? Before replying here, I just checked the wallet again but can't find where. By the way, I'm not interested in using the wallet for now but I want to verify whether it truly has back up phrase.

[CryptSafe]

I thought of this for sometimes and decided to not make much mistake of opening a telegram wallet. If telegram can ban account then what is the fate of the assets or funds saved in that particular account registered with the banned phone number. This happens to be a challenging factor now and it is another aspect of thought for the telegram wallet team. To get an account unbanned is something not feasible for the moment and I believe that would pose a major challenge to both the telegram exchange and her customers for the time being.

[SATWAT]

I thought of this for sometimes and decided to not make much mistake of opening a telegram wallet. If telegram can ban account then what is the fate of the assets or funds saved in that particular account registered with the banned phone number. This happens to be a challenging factor now and it is another aspect of thought for the telegram wallet team. To get an account unbanned is something not feasible for the moment and I believe that would pose a major challenge to both the telegram exchange and her customers for the time being.

After reading too many things around now I have understanding going with wallets like these are never been good idea because things can be gone into wrong way, and we can lose our assets which is not good deal, and you are right once they can ban you then you can also lose these assets which are also problem so avoiding these wallets are the best option with staying here only for the chat is good but doing any other activity is never been good and ideal deal.
Telegram needs to be more advance about this with currently many things are helpful for the scammers which are surely not good, but they can improve their things which will be helpful for the crypto world.

[Kelvinid]

A lack of knowledge about cryptocurrency, in general, will lead to the installation of unsecured wallet apps.
A reason why even today, many people still lose their money. Sad to say that we just learned how to rightly choose a wallet to store our coins and secure our funds when we already experience losses. I don't know but I see this as a common instinct by most and I hope this will change knowing that there is always a way to avoid it. We have to keep in mind that scammers don't give us mercy, they will take everything we have once they get an entry into our wallet.
Let us educate ourselves first rather than educate ourselves later.

[armanda90]

Its main problem with telegram account got banned without any reminder or abnormal activities of our account, I used telegram for updating some signal cryptocurrency trading and usually use for joining airdrop project. But many time my account suspended without any reason why is happening, I don't see any recommended using telegram wallet behind easily account got banned and potential loss all our assets after losing access to telegram account.
For holding or saving assets based on TON network using Tonkeeper as application or has crhome add on with feature saving seed phrase, its not problem when application removing still has access trough seed phrase. Don't use wallet with easily how to access their account got banned without any way for recovering, for telegram account suspended I don't think any ideas how to recovery back.