Telegram Wallet’s service provider manages users’ personal data but remains completely off the radar itself.

Telegram Wallet has a unique competitive advantage: it’s the easiest crypto wallet for hundreds of millions to access on the Telegram app. However, this convenience comes with a risk for its users.

The wallet requests and entrusts users’ data to a secretive company without public presence and digital trails. It remains entirely unclear who operates such sensitive information and is responsible for its say service provider manages users’ personal data but remains completely off the radar itself.

Telegram Wallet updated its policies and requests user personal data.

The wallet requests and entrusts users’ data to a secretive company without public presence and digital trails. It remains entirely unclear who operates such sensitive information and is responsible for its safety.

At the same time, this is just the first piece of a larger puzzle. The connections of those associated with the mysterious entity lead to the most powerful circles of Russian society.

Telegram Wallet Users Face Problems

“I staked some Toncoins on my [Telegram] wallet. They are gone, and there is no answer from customer support,” a Telegram user told me.

This is just one of many similar complaints about Telegram Wallet that flood social media forums.

Presented to the public in April 2022, the Telegram Wallet allows buying, exchanging, and transferring crypto within the world’s fourth-biggest messenger app. Since then, it has been added to over 20 million user menus, reaching more than 2.2% of Telegram’s 900 million users. However, dissatisfaction among its users has also increased since then.

People report missing deposits. Even though their transfers were verified and recorded into the blockchain, funds have not landed in their Telegram wallets. Others lost digital assets after the messaging app blocked or deleted their accounts directly tied to their Telegram Wallets. 

Many were blocked after engaging with popular crypto games or transferring funds between wallets. Users faced bans when reporting illegal activities or submitting ID documents for user verification.

Despite that, victims frequently complain about Telegram Wallet’s poor customer support, reporting cases when they had to wait weeks or months without receiving a response from the client help center, thus calling it “non-existent.”

Telegram Wallet attributed user complaints to increased customer service workload following the integration of USDT stablecoin payments in April 2024. Then, $100 million worth of USDT was issued in two weeks, making it Tether’s fastest-growing USDT launch.

However, this did not alleviate consumer concerns, which only grew this summer after the wallet implemented some changes.

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