Robot drug dealer hosted on Telegram which has been discovered by darknet market (DNM) customers permits the exchange of illegal products for Bitcoin 24/7. The robot drug dealer platform named ‘Televend,’ is an automated software program that allows for the peddling of illegal narcotics for people paying with bitcoin and in the past few months, the system has grown rapidly.
While many darknet markets have fallen to the wayside, a slew of new types of methods when it comes to selling illegal drugs online has risen. For instance, the world’s largest DNM in Russia, Hydra, leverages a complicated system of vendors who utilize drop zones. Additionally, a great number of DNM customers have used messenger applications like Facebook Messenger, Signal, Telegram, Whatsapp, and others to procure some drugs.
More recently, DNM users have been leveraging a new messenger route that utilizes a Telegram software program or bot called “Televend” to facilitate drug trades.
It’s not too hard to locate the relevant Televend links in order to catch a glimpse at this growing black market platform. According to the program’s learning channel, there are a number of obstacles one must complete before leveraging the Televend route. The channel’s pinned message also gives a brief description of what the bot does and how drug vendors can use the app.
“Televend is an auto-shop bot network for direct dealers, we administer the bots and vendors run them like private shops,” the channel’s message reads. “Customers can visit them and pay with bitcoin, track orders and payments, plus leave feedback and ratings. Vendors control the listings and configuration of their bot via a .onion Tor-based control panel so no Telegram account is needed to vend. At this control panel, they can add listings, process orders, answer messages, and other features.”
The creators of Televend claim that the system has around 200,000 users to-date, but it’s hard to verify as there are various Televend channels with different amounts of subscribers. The robots drug dealer notify clients when some drugs are being sold at a discount or if a new blend of cannabis comes in.
Users can leave feedback ratings so other patrons can get a glimpse of trusted vendors operating within the Televend network. However, unlike operations like Openbazaar or the myriad of DNMs on the deep web, Televend bot use is entirely based on trust. There is no escrow system and there’s a much higher chance of being ripped off by scammers preying on newcomers.
About a month ago, a Reddit user posted a question about Televend on the subreddit r/darknet in order to get information on this new platform. One person said a vendor told him that he left the DNM Icarus to sell his drugs using the Televend system. Another user also noted that “Televend was great.” The creator of the thread described the software program as a “messaging system,” which is “used for drug deals.”
“No escrow so you have to rely on feedback/trusted vendors,” the r/darknet subscriber wrote. “Lots of scammers are on there, so you need to be extra, extra careful, but I research vendors and only use those that are verified/trusted/good feedback from other sources. There’s a group chat so scammers tend to be identified pretty quick and the good vendors sussed out,” he added.
The Televend admins also detail a number of instructions people should follow before utilizing the robot drug dealer service. For instance, admins recommend that people don’t register with their phone number and join Telegram by using a SIM hosting/SMS service like 5SIM.
When registering with a service like 5SIM, Televend operators say the user should choose an alternative country but avoid using Russia or Ex-soviet countries, as there are issues for Telegram users. Televend admins also recommend setting up the Telegram client to proxy it through the TOR network.
The Televend creators also suggest setting up two-factor authentication with Telegram as well. “This is important because your temporary number would be unavailable for you to use again, but will be in circulation for others. With 2FA your account can not be stolen,” the Televend community learning channel says.
Televend has a bustling community of customers and drug vendors, as the robot drug dealer removes a number of tedious tasks from the drug dealing process. The Televend bot charges a vendor commission for all the sales executed for using the program as well. Additionally, the core Televend team has been paying bounties for people who help bolster the network and for those who write vendor reviews on the DNM forum Dread.
“Televend is paying 100 EUR in BTC for every vendor you refer to our network,” explains one administrator dubbed ‘@TelevendPR.’ “All they need to do is mention your Telegram username and make their minimum initial deposit of 200 EUR”
In another thread, posted to the r/darknet forums, a couple of users say that Televend has hosted “some of the UK’s finest vendors.” The biggest warning most Televend users give, however, is for newcomers to research vendors thoroughly, because the bot system is entirely based on trust.
“I’ve used it,” explained another Reddit user on r/darknet. “I love it. Just research your vendors very well because there is no escrow. Some of the best and most trustworthy vendors are on there if you know how to find them.”
This article is sourced from:https://news.bitcoin.com
Author: About Comfort Obey
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“Exchange FUD” Narrative That Haunted Bitcoin May Finally Be Dead: Analyst
This past week, OKEx revealed that it had frozen withdrawals of Bitcoin and all other cryptocurrencies. A private key holder that manages withdrawals went offline after he began cooperating with a public security bureau.
Bitcoin proceeded to drop by 2-3% against the dollar. Many thought the asset would drop even further, but it didn’t, with the price staying resolute even into the weekend.
Analysts say that BTC’s inability to dump on this news shows that the cryptocurrency exchange FUD narrative that once captured this industry is “officially dead.”
Qiao Wang, a prominent industry analyst, commented on the matter:
Some perspective: BTC is up about 5% during a 3-week period where Kucoin got hacked, Bitmex executives got charged by regulators, and Okex suspended withdrawals due to investigation. The “exchange FUD” narrative that has haunted this industry for years is officially dead IMO.
Some perspective: BTC is up about 5% during a 3-week period where Kucoin got hacked, Bitmex executives got charged by regulators, and Okex suspended withdrawals due to investigation.
The “exchange FUD” narrative that has haunted this industry for years is officially dead IMO.
— Qiao Wang (@QwQiao) October 18, 2020
As can be seen, he also made reference to other bearish news events for exchanges that barely managed to budge the price of Bitcoin.
These include, Bithumb getting raided by South Korean police at the start of September. KuCoin getting hacked for over $200 million worth of digital assets, most of which were in Ethereum and ERC-20 tokens. And lastly, BitMEX getting charged by the U.S. CFTC over derivatives violations.
A reason why Bitcoin may be holding up well is that there is likely an institutional bid that is supporting price action.
Crypto asset analyst “Z” noted that the cryptocurrency exchange Coinbase has been facilitating many buyers of Bitcoin over recent weeks:
“Went through some numbers today: Since the drop from $12k to $10k on September 2nd, Coinbase alone has been a massive net buyer of $BTC. Roughly 40,000 BTC in net buying in that 44 day period. (800 BTC a day).”
This bid is supporting Bitcoin’s price, allowing it to absorb bearish news events without a massive red candle on its chart.
Went through some numbers today:
Since the drop from $12k to $10k on September 2nd, Coinbase alone has been a massive net buyer of $BTC.
Roughly 40,000 BTC in net buying in that 44 day period. (800 BTC a day). pic.twitter.com/2BJxQiqg3N
— Z (@SplitCapital) October 16, 2020
Author: By TeamMMG
Paxful Teams Up With South Korean Cryptocurrency Giant Bithumb Global
NEW YORK, Oct. 16, 2020 /PRNewswire/ — Global peer-to-peer (P2P) cryptocurrency marketplace Paxful is highlighting the partnership with South Korea’s leading cryptocurrency exchange Bithumb Global. With 8 million registered users, 1 million mobile app users, and a cumulative transaction volume of over 1 trillion USD, Bithumb Global is the most influential digital currency exchange in the country. Like Paxful, they’re committed to providing opportunities to everyone in the world – the pooling of resources will help even more people gain access to financial freedom.
South Korea is an important component of the cryptocurrency market, with an abundance of technological developments and digital currency exchanges in the country, as well as a high number of crypto adopters among its population. Following the recent announcement of a test distribution of digital won (CBDC) by the central bank, the country is on the way to becoming one of the major crypto nations.
“We are pleased to partner with Paxful to provide our users with a fast, secure, and more convenient fiat-to-crypto gateway. This collaboration marks another milestone in our global expansion,” said Javier Sim, co-founder and Managing Director of Bithumb Global.
Paxful will provide a fiat channel for Bithumb customers, giving access to over 300 different payment methods for buying cryptocurrencies. Acting as a fiat-to-crypto on-ramp, Paxful hopes the alliance will increase adoption, scalability, and real-world use cases for the entire cryptocurrency ecosystem.
“Paxful is proud to be joining hands with another industry leader whose goal is to remove the barriers for global transactions and bring financial inclusion to everyone. With growing global interest in digital currencies and blockchain technology, this partnership signals a move towards creating a truly global economy,” says Ray Youssef, co-founder and CEO of Paxful.
To seal this exciting agreement, Paxful and Bithumb Global launched a 5,000 USDT giveaway; users who use the kiosk trading system will have the chance to win from a pool of 5,000 USDT for successful transactions in an event that will run till 31 October 2020.
Paxful is a people-powered marketplace for money transfers with anyone, anywhere, at any time. Their mission is to empower the forgotten underbanked around the world to have control of their money using peer-to-peer transactions. The company, founded in 2015, has over 4.5 million users globally who you can instantly buy and sell Bitcoin (BTC) and Tether (USDT) using over 300 payment methods.
As part of their mission, Paxful launched #BuiltWithBitcoin, a social good initiative to build 100 schools funded entirely by bitcoin all across emerging markets.
About Bithumb Global
Bithumb Global, part of the Bithumb family, is one of the biggest cryptocurrency exchanges based in Asia. Since its establishment, it has served millions of users around the world. Bithumb Global provides users with BTC, ETH, XRP, LTC, BSV, BCH, and other trading services like Spot and Margin Trading.
OKEx’s OKB Crypto Slides Another 20% as Fears Around Exchange Fester
Earlier this week, it was revealed that OKEx had frozen all crypto withdrawals from its platform over concerns about a private key holder. OKEx is a leading crypto-asset exchange that processes a material percentage of the spot and futures volume in the industry.
OKEx said that one of its private key holders was working with a public security bureau. He had been out of contact since he started working with the bureau, so they could not process withdrawals.
OKB has dropped 20% in the past 24 hours as fears have persisted about OKEx, despite reassurances by the company that user funds are safe. It’s worth noting that companies like Crypto Quant, which tracks crypto market data, have noted that no funds have moved out of the company’s known Bitcoin wallets. This suggests that user funds are safe.
Some believe that OKB is falling due to an increase in short exposure.
Analysts think that even if OKEx’s functionality returns to normal soon, investors will continue to migrate their capital to decentralized exchanges. Centralized exchanges have been seeing increasing pressure over recent weeks and months from regulators, which culminated earlier this month with the CFTC charging BitMEX over derivatives violations.
Qiao Wang, a notable crypto analyst, says that the ongoing situations with decentralized exchanges will drive capital to decentralized exchanges, especially swap and futures platforms:
“Hard to overstate the importance of 1) Ethereum L2s and scalable L1s coming online, and 2) What happened to Kucoin/Bitmex/Okex over the last 2 weeks. Timing cannot be better for decentralized futures/swap exchanges to finally take off in 2021.”
Decentralized futures and derivatives platforms, in general, have struggled due to high block times and sometimes high transaction fees. But with the introduction of scaling solutions, there may be decentralized derivatives experiences that emulate that of centralized platforms.