_Warning: Custodial Wallets Can Freeze Your Funds โ ๏ธ_
A disturbing incident has come to light, highlighting the risks of using custodial wallets like Telegram Wallet ๐. Russian opposition activists found their funds frozen forever after being added to a government blacklist ๐ซ.
_No Warning, No Appeal ๐ซ_
Without warning or opportunity for appeal, the activists' funds were seized, leaving them with no recourse ๐คฏ. The Wallet team claimed they were following AML and KYC policies, but this incident raises concerns about control and financial freedom ๐จ.
_The Truth About Custodial Wallets ๐ค_
Many believe Telegram Wallet is a safe alternative to banks, but the reality is starkly different ๐ช๏ธ:
- *You don't control your funds*: The company behind Wallet does ๐ค.
- *Your money can be lost*: If they block you, your funds are gone ๐ธ.
_Telegram Wallet is Not Telegram ๐ซ_
It's essential to note that Telegram Wallet is run by The Open Platform (TOP), a separate company, and is custodial ๐. Unlike non-custodial crypto wallets, where you control your private keys, Wallet holds your funds, not you ๐.
_Decentralized Wallets: The Safer Choice ๐_
To maintain financial freedom, consider using decentralized wallets like:
- Tonkeeper
- Trust Wallet
- MetaMask
These wallets put you in control of your funds, ensuring that only you can access and manage your crypto assets ๐.
_Remember: Not Your Keys, Not Your Coins ๐จ_