Bitcoins, Telegram and Security - page 2.

mendace

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Quote from: Dave1 on April 25, 2023, 08:46:40 AM

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

kryptqnick

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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.

Dave1

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Quote from: Sidra101 on April 24, 2023, 02:29:44 AM

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.

fadhilz123

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Quote from: balotelli on April 24, 2023, 03:57:46 AM

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.

Quote from: Party24*7 on April 24, 2023, 10:48:24 AM

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.

rat03gopoh

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Quote from: Sidra101 on April 24, 2023, 02:29:44 AM

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.

tbct_mt2

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Quote from: NotATether on April 25, 2023, 05:31:47 AM

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.

NotATether

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Quote from: Sidra101 on April 24, 2023, 02:29:44 AM

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.

summonerrk

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Quote from: Sidra101 on April 24, 2023, 02:29:44 AM

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.

justdimin

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Quote from: Poker Player on April 24, 2023, 04:37:59 AM

Quote from: Sidra101 on April 24, 2023, 02:29:44 AM

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.

mendace

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Quote from: Gladitorcomeback on April 24, 2023, 03:35:37 PM

Quote from: mendace on April 24, 2023, 02:50:40 AM

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.

Gladitorcomeback

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Quote from: mendace on April 24, 2023, 02:50:40 AM

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?

Obari

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This is a great move and I think it will be a really nice and welcome development for we bitcoiners and I think we shouldn't be so panicked over security because I'm sure that they already know that cryptocurrency actually requires alot of security as many people always want to stay unknown and always requires alot of security, so I believe that security would have been their top priority while considering to announce this bot.

One of the major reasons why I love Bitcoin is the ease to be able to send money across each country and the fact that it still maintains the highest exchange rate internationally and having telegram run an exchange service through a bot, would make sending money much more convenient and faster.

Dr.Bitcoin_Strange

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This is just another centralized means of Bitcoin transaction. Telegram uses individuals phone number to be registered, and perhaps if anything goes wrong in the future, any user can just get tracked. Also, in the past, I have had the experience that someone I don't know used my phone number to create a Telegram account, and the person set the account on password, so that even I, the original owner of that phone number, couldn't use the number to log in to Telegram; it was asking for a password, and even when I tried to cancel the password process, it was not working.

Through that process, it means that a scammer can even use a Telegram account that is created with another person's number to commit a crime, like stealing someone's debit card and using it to purchase coins on the app, and if this is tracked, the phone number used to register the account would lead them to you, who is making use of the phone number, whereas another person committed the crime with telegram account that was created with your phone number.

Well, it's not every platform that conducts buy/sell transactions of Bitcoin that someone is supposed to interact with.

livingfree

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Quote from: Accardo on April 24, 2023, 09:57:52 AM

Quote from: livingfree on April 24, 2023, 04:10:01 AM

I've read of the news before but I'm trying to look for the source of it but having hard time finding it. Anyway...

you can read a source where I first read about it before seeing this thread on the forum

Thanks!

Quote from: Party24*7 on April 24, 2023, 10:48:24 AM

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.

Honestly, one cannot avoid using centralized services. We've got Binance, Coinbase and other popular exchanges where most of us will agree that we've used it for one reason, convenience. It's still best to practice in getting used to DEXs.

But in terms of this type of centralized platform and it's known for being a den of scammers, I'll hardly use it and probably will never get into it.

Hispo

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Quote from: CryptSafe on April 24, 2023, 11:17:37 AM

So far I do not see any tangible or multivating reason or scene that would encourage me to attempt using telegram to store my coin. Telegram and cex are still the birds of the same feather. If CEX can be hacked irrespective of the security layers involved or activated to protect one's fund's and exchange as well still hackers still get there way in. CEX is better that you have some body to blame for the such scenario if such happens to your telegram account holding your assets, what would you do and who would you hold responsible for the hack.

My conclusion is this if they are willing to take such step, they can be able to come up with an identity and should stop using telegram to front their wallets project.

As far as I am concerned, Telegram is aiming to become an all-in-one app in the future so you could theorically use the wallet with a official bot (developed by some restaurant franchise) so you would be able to order pizza in a chat, pay directly from the wallet and allow the food get send to your location. Among other interesting things, if those things happen in the future, I can see myself depositing a bit USDT on that wallet, not much.

On the other hand, I mostly agree with you. Telegram is not to be trusted with big amounts. It is too risky, perhaps even more than having big money on Binance, at least the they have some previous experience with attacks and cyber security within the crypto world.

CryptSafe

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So far I do not see any tangible or multivating reason or scene that would encourage me to attempt using telegram to store my coin. Telegram and cex are still the birds of the same feather. If CEX can be hacked irrespective of the security layers involved or activated to protect one's fund's and exchange as well still hackers still get there way in. CEX is better that you have some body to blame for the such scenario if such happens to your telegram account holding your assets, what would you do and who would you hold responsible for the hack.

My conclusion is this if they are willing to take such step, they can be able to come up with an identity and should stop using telegram to front their wallets project.

Party24*7

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Quote from: balotelli on April 24, 2023, 03:57:46 AM

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.

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.

darkv0rt3x

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Quote from: Sidra101 on April 24, 2023, 02:29:44 AM

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.

Hum, I heard about it, but I'm not going to trust in it for now. Who knows who these guys are and what are their intentions. I rather to leave that "job" to others and then, when there is feedback, I can eventually try it, but for now, nope, it's too soon and Telegram is a whole filled with stupid scammers if you don't pay attention! There are already a few P2P services to buy and sell Bitcoin that are actually being tested, such as Peach. So, I don't see the need to rush right away into another way of doing the same thing.

Accardo

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Quote from: livingfree on April 24, 2023, 04:10:01 AM

I've read of the news before but I'm trying to look for the source of it but having hard time finding it. Anyway...

you can read a source where I first read about it before seeing this thread on the forum

Quote from: Poker Player on April 24, 2023, 04:37:59 AM

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 once saw a telegram no KYC bot, and it's normal to say that telegram doesn't require KYC for P2P trades, as their CEO once in his tweet stated that telegram would build and integrate more decentralized projects.

My only concern about this new update is that, telegram is the biggest messenger for crypto scammers, and this new update will only make things easier for such people to carry out their bad attitudes. The wallet bot is a no brainier, anybody can utilize it without difficulty. The UI is friendly, so victims won't hesitate to fall for scammers because no hassle in purchasing bitcoin. Hence, aside that, it's a big adoption for bitcoin, many people on telegram that saw the update or announcement can begin trading with bitcoin and businesses on the messenger will also utilize cryptocurrency as a payment method. As for hacking of wallets, telegram has a feature for users to add password to their numbers before any fresh login. And also users that have their funds stored on telegram wallet can also secure the app with passwords too, to avoid friends or spouse, who can have their phones, from accessing their wallets.

BenCodie

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How secure is it is a question that comes from multiple perspectives.

Are you thinking about the security of your identity and personal information?
Answer: Telegram is known to be unencrypted by default, I would not trust it with personal information or payment information.

Are you thinking about the security from hackers?
Answer: This is determined purely by the security measures that you have taken on your account, such as:
- Having 2FA enabled
- If the phone number linked to the account is personal, or from a phone verification service/temporary phone number
- The strength of your password and 2FA password.
- Whether or not you store the purchased coins in telegram bot wallets (if so, they are vulnerable to being stolen both by the bot or anyone who gains access to your account)

In my opinion, while it seems like a very convenient solution, no one should be using this service or any other centralized service to purchase coins. P2P services are the best way to transact to and from fiat with Bitcoin and other cryptocurrencies.

Topic: Bitcoins, Telegram and Security - page 2. (Read 430 times)