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<ul><li>Bitrace investigation exposes the exploitation of vanity blockchain addresses and the risks of anonymous crypto transactions on Telegram.</li><li>The study unveils &#34;zero-transfer phishing&#34; scams and the potential for business address contamination through Telegram bot currency exchanges.</li><li>The company urges the use of verified identity systems for crypto transactions to prevent legal issues and ensure transactional security.</li></ul>A recent <a href="https://t.co/GHw0lr1lDI" rel="noopener noreferrer nofollow">investigation</a> by Bitrace, a blockchain analytics firm, has unearthed a series of risks associated with the use of cryptocurrency in anonymous online marketplaces, particularly highlighting the dangers within Telegram&#39;s coin exchange bots. The study highlighted how these platforms, often celebrated for their convenience and anonymity, can become conduits for illicit activities.The research detailed how <a href="https://www.vanitytrx.org/trx_en/" rel="noopener noreferrer nofollow">vanity blockchain addresses</a>, created to flaunt uniqueness or brand identity, are being exploited in recent times. These addresses are generated through batch processing of random private keys, with some requiring significant computational power for higher character specificity. These addresses are frequently used by gambling platforms and are paid for in TRC20-USDT, a practice that risks contaminating the service provider&#39;s business address with funds linked to illegal activities.Bitrace also highlighted a sophisticated phishing scam known as &#34;<a href="https://slowmist.medium.com/slowmist-be-wary-of-the-transferfrom-zero-transfer-scam-c64ba0e3bc4d" rel="noopener noreferrer nofollow">zero-transfer phishing</a>,&#34; where fraudsters send multiple small transactions to random addresses, thereby contaminating their transaction history. This is often coupled with the creation of tail number addresses that mimic the end digits of a target&#39;s address, increasing the deception. The funds obtained through these scams, when used to pay for address customization services, can lead to the service provider&#39;s address being associated with black and grey market funds.Read full article at <a href="https://cryptotale.org/bitrace-unmasks-security-flaws-in-telegrams-coin-exchange-operations/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Bitrace Sheds Light on the Perils of Telegram's Crypto Exchange Bots

CryptoTale

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