Telegram’s Launch of New Wallet on TON Blockchain Ignites Heated Debate

Telegram recently introduced its self-custodial wallet on the TON blockchain, but this move has generated controversy. CertiK, a well-known blockchain security firm, has issued a warning about the use of Telegram bot tokens.

According to CertiK’s report, more than 40% of Telegram bot tokens could potentially be exit scams. This alarming finding has raised concerns in the crypto community, especially considering the increasing popularity of these tokens. Since July 20, Telegram bot tokens have witnessed gains exceeding 1,000%, with UNIBOT leading the way.

UNIBOT’s price surged by nearly 1,300% on the day of its listing, reaching an all-time high of $90. Currently, the token is valued at $76. This impressive performance has contributed to the overall interest and demand for similar assets.

On a different note, Telegram’s self-custodial wallet on the TON network has garnered significant attention. The wallet offers a user-friendly interface and various features, including easy top-up with a bank card, preferred currency selection, and effortless cryptocurrency buying and trading. Powered by the TON blockchain, known for its fast transactions and support for decentralized applications (dApps), the wallet aims to provide a seamless user experience.

One notable feature of the wallet is TON Space, which allows users to send and receive crypto, manage Telegram usernames, and handle DNS-related tasks. Additionally, the wallet includes a P2P market for easy trading between crypto and fiat currencies.

By integrating this wallet, the TON Foundation aims to onboard approximately 30% of active users onto the TON blockchain within the next 3-5 years. This initiative aligns with TON’s broader vision of promoting the widespread adoption of Web3 technology.

In conclusion, while Telegram’s self-custodial wallet brings exciting possibilities, it is essential to remain cautious when dealing with Telegram bot tokens. CertiK’s warning serves as a reminder of the potential risks associated with these tokens. As the crypto market continues to evolve, it is crucial to prioritize security and rely on credible sources for information.


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J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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