Telegram trading bots are hot, but don’t trust them for custody

Telegram trading bots, which have been turning the messaging platform into a quasi-crypto marketplace, pose significant security risks for users and require further scrutiny, according to blockchain security firms.

While such trading bots have existed for years, they’ve recently gained attention as crypto markets gain and associated bot tokens have gained in price, blockchain security firm CertiK told Cointelegraph.

As of the time of writing, the combined market capitalization of Telegram bot tokens is nearing $250 million,