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Telegram Announces Switch in Crypto Wallet Service Provider to Enhance Security

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Online messaging app Telegram has announced a change in its crypto wallet service provider, transitioning to WOT Global Solution LTD starting May 30. This move aims to improve user experience and introduce additional layers of security by requiring Know Your Customer (KYC) details such as names, birthdates, and phone numbers. To continue using the service, users must agree to new terms and conditions, including data transfer provisions.

Telegram has assured users that they have the option to withdraw funds and delete their wallet accounts if they are uncomfortable with the changes. This transition comes as the platform experiences a surge in user engagement, particularly in platform games.

Telegram’s adoption of blockchain technology has significantly increased interest in cryptocurrency. The Open Network (TON) on Telegram has seen over $319 million in deposits and a notable rise in the number of wallets recently. Among Telegram’s popular games, Hamster Kombat boasts 8 million users, while Notcoin offers crypto rewards for completing tasks. Analysts suggest these initiatives could pave the way for broader crypto adoption in the future.

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