Telegram is gaining on WhatsApp as the go-to platform for sharing price-sensitive information or tips related to the market, The Economic Times reports.
Concerns about the vulnerability of WhatsApp to pressure from the Securities and Exchange Board of India (SEBI) and the government to share information has triggered the recent switch.
The report quoted market participants who confirmed that such Telegram groups do indeed exist. In fact, many such groups also have a set entry fee for new members who wish to access the market-driving information that the members these groups claimed to provide.
The report stated that agencies probing some people had cloned their mobile phones and managed to back up their WhatsApp messages which was then used as evidence against them. The report noted that there are slim chances of such a thing happening on Telegram as it offers a ‘Secret Chat’ feature that erases information exchanged after a specific period of time, and it can’t be copied or shared once erased.
Privacy concerns also took the center-stage after the most recent controversy over the Facebook-owned app being hacked by the Pegasus spyware.
Last month, the Facebook-owned company had showed that Indian journalists and human rights activists were among those globally spied upon by unnamed entities using Pegasus spyware.
According to WhatsApp, the spyware was developed by Israel-based NSO Group and had been used to snoop on about 1,400 users globally, including 121 users from India.
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