CoinPayments.Net Removes All Telegram Bots, Implements New Authentication Protocols

As with any financial endeavor, the cryptocurrency ecosystem has been substantially plagued with scammers of all different methods.

While some go directly to users with their malware, recent Telegram bots were uncovered on the CoinPayments website, which were ______. Now, in a new video published by a YouTube channel called “To the Lifeboats,” the host has described how these bot scammers have finally been shut down.

In their report, the website has decided to ultimately remove all of the bots from their services, and will now be implementing protocols that ensure that the users provide proof that they are real and not a bot. The decision brought down dozens of scams with one change in their requirements, effectively providing protection to consumers on their platform.

The host of the video, called “Crypto Telegram Bot Scammers Shutdown!” said that the decision to remove these bots was the result of both promoted videos from themselves and others. He also noted that there were many users that voiced their disdain for the actions of the bots.

Clearly, the individuals that ran these bots are not pleased, as they have expressed on social media. The host of the show posted a tweet that expressed his happiness that these scammers are about to have a bad day in the land of CoinPayments.

Soon after, CoinPayments saw the post, commenting that they were happy to have the support of their consumers while they “clean house.”

Even though the removal of these bots is clearly harmful, the video host expressed that he sees “valid use cases,” but the removal is so much more important.

He even told CoinPayments that they would be getting a shout out in the video.

In the Pro Ledger bot, the host turns the attention to the bots. Many of these Telegram bots are saying that their platforms are undergoing maintenance right now, which he said is a “sign” that the scams are “starting to fail.”

The group was converted to a private group right after the annoucement that bots will be deleted from CoinPayments.

Seemingly an effort to preserve themselves, the scammers said that the maintenance will hopefully be resolved within two days. If, by the third day, the users are unable to get their funds, the channel directed users to contact them directly for manual withdrawal. The host said that this suggestion is most likely the steps that precede an exit scam.

Throughout the video, the host shows multiple screenshots and recorded video of him going through the various channels for the bots, adding that all of them have cited either maintenance issues, withdrawal issues, or similar issues.

Furthermore, these bots are disabling their channels or privatizing them to prevent users from catching on. Here's the full video:

Bitcoin Price News Week in Review: All the Top BTC Predictions in One Summary

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Krystle M
Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,467FansLike
2,795FollowersFollow
4,230FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Compound Protocol to Roll Out Decentralized Oracles Dubbed ‘Open Price Feed'

Compound, one of the most popular defi protocol, is all set to introduce open price feeds for lending on its platform using a decentralized...

$2 Million Slippage & Surge in Ether Price on Uniswap Helps Net $40k in Profit

A Uniswap user was able to profit $40,000 thanks to $2 million of slippage and the price of Ether surging north of 15%. It all...

Irish Govt to Target Cryptocurrencies Use in Money Laundering And Terror Financing

The Irish government aims to implement stricter and more stringent laws to curb money laundering and terrorism financing in its financial system, including digital...

Interactive Brokers to Settle $38 Million in Penalties for Violating AML Procedures

Interactive Brokers LLC, a U.S based brokerage that skyrocketed between 2013 and 2018, has agreed to settle a total of $38 million with the...

Ethereum Gas Price Hasn’t Been This High Since its Launch

The price of Ether is back to making its way to $400 level as it hovers around $391 in the green with just $840...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today