UN Raises Concerns Over Telegram’s Role in Crypto Crimes and Stolen Data Trade
Currently, large organizations actively discuss Web3, aiming to determine the optimal levels of regulation for this sector and minimize the risks of fraud that often arise in the digital world. Unlike centralized finance, decentralized systems like cryptocurrencies are complicated to control.
In today’s news article, Coinmooner wants to share information that the United Nations recently stated that the messenger Telegram has become a hub for cryptocurrency and cybercrime, providing criminals with a platform to trade stolen data, spread malware, and launder illegal digital assets.
Some users believe this may be connected to the recent arrest of Telegram's CEO, Pavel Durov. You can learn about this in our previous article, "Telegram's TON Cryptocurrency Takes a Hit as Founder Durov Faces Legal Troubles."
Telegram Accused of Enabling Crypto Fraud, UN Pushes for Web3 Regulation
Coinmooner has also decided to examine the report's key points more closely. The UN has long been actively discussing the impact of cryptocurrencies on the global economy, security, and social aspects. The organization pays special attention to issues related to using digital currencies for money laundering, financing terrorism, and cybercrime.
The UN notes that criminals prefer to use messaging apps with encryption features, such as Telegram, due to weak moderation. This allows them to freely trade stolen personal data, sell malicious software, and launder illegally obtained digital assets.
Additionally, it has become known that among the malicious programs available for purchase on Telegram are tools for creating deep fakes and stealing data. There has been a significant rise in mentions of keywords related to deep fake technology on Telegram’s Marketplaces. According to unconfirmed reports, one underground cryptocurrency exchange launders up to $3 million daily from stolen digital assets through the Telegram platform.
UN officials also report that the Southeast Asia region is one of the main bases for groups actively using Telegram. Among the criminals are members of Chinese triads who force people into slavery and make them engage in illegal activities online. These criminal organizations earn between $27.4 billion and $36.5 billion annually.
The attention of a major international organization like the UN to the issue of fraud in the Web3 industry could become a severe barrier to criminals and protect people. Coinmooner will continue to monitor developments and promptly inform our readers of all new details. We also remind you that personal safety and protecting your finances in the crypto industry are paramount, so always use advanced security methods.
