Telegram’s Wallet Tightens User Data Collection

The cryptocurrency wallet integrated into Telegram, known as Wallet, has announced a change in its custodial service provider and a new data collection policy. This was highlighted by journalist Colin Wu.

The official cryptocurrency wallet of Telegram system, Wallet, requires stricter KYC information, requiring name, date of birth and phone number. The announcement stated that from June 3, all functions except withdrawals will require updated account details. From May 30, 2024,…

— Wu Blockchain (@WuBlockchain) May 29, 2024

According to the notification, from May 30, 2024, the wallet services will be provided by WOT Global Solution Ltd.

“By continuing to use Wallet, you agree to the transfer of your personal data to WOT Global Solution. This process includes all data you have provided to us and information collected during your use of Wallet in accordance with the Privacy Policy,” the notification states.

The information to be transferred includes “name, address, phone number, transaction data, and any other details that [Wallet] may have about you.”

By continuing to interact with the wallet from the time of the document’s publication, the user automatically agrees to all the listed terms.

The document states that one can opt out of the changes by ceasing to use Wallet, withdrawing the balance, and deleting the account.

“If you do not delete your account by May 20, 2024, we will assume you have agreed to the data transfer and will continue to use the wallet services provided by WOT Global Solution,” the app’s representatives clarified.

It is unclear when the notification was published. The journalist reported it on May 29, but no announcements were observed in the official Telegram and Wallet communication channels.

Earlier, the Telegram messenger announced the introduction of its internal currency, Telegram Stars, for paying for digital goods and services in bots and mini-applications. The new feature will appear on June 12.

Back in April, Wallet launched USDT transactions based on The Open Network.