Security update regarding Telex ERC20 token smart contract

Can Soysal
Aug 2, 2018 · 3 min read

Dear fellow chatbot lovers,

It’s with great pride, that we’re able to share with you our latest deployment of TeleX AI, a crypto broker for your favourite apps. The MVP software, deployed on the messaging app Telegram, is now live on the bitcoin testnet and is reachable, as always at t.me/telex_test_bot. Please let us know what you think of it or if you run into any bugs. We’re always more than happy to receive constructive criticism and learn about how we can improve the experience for our users.

For our most recent MVP, each user will be assigned $10,000 to trade with on their demo account. Play around and get the general feel for what we had been trying to layout for you all initially. With that said, we also wanted to bring you some updates regarding the direction we’re embarking on.

TeleX AI as a whole has been quite the adventure and learning the ropes has at best been, challenging. Our entire team has learned a lot as time has past. We’ve strengthened in many ways, from staffing, hiring, protocol, the way we manage workflow, to the way we’re structuring our approach for the coming market rush of 2018.

In the thick of it we have grown to admire and attempt to emulate the professional levels of the monoliths in the exchange industry such as Coinbase and Gemini. TeleX AI would like to ultimately provide you with an AIO (all in one) custodial trading solution, that’s not just flexible, but safe and secure. Somewhere you know that your funds won’t just disappear. With all this said, we’re informing our community of an update in the structure of our security moving forward.

One of the first things of notoriety that TeleX AI is actively in pursuit of, and in near acquisition of, is its Estonian Cryptocurrency Wallet and Exchange Licenses. This license will allow us to process USD pairs for cryptocurrency trading as well as allow people to withdraw and deposit USD and other native fiat currencies.

Following this update, we’re going to be upgrading the contract to a new contract which is “owned” and will further legitimize our status as a custodial style exchange solution provider. The reasons that an “owned” contract was chosen for TeleX AI was in case of any emergency, in which the exchange may in any way be compromised. We will have the ability to blacklist stolen tokens, comply with law enforcement agencies, and ensure that you as an investor and user, are protected and your best financial interest kept at the forefront of our priorities.

We’ve been in touch with Yobit exchange to upgrade the contract and we were met with not only a difficult time in contacting them, but complete and utter misdirection. As such, we highly suggest users withdraw their TLX from Yobit at this time in preparation for the upgrade. The TLX token is available to trade directly through a gateway on our site. You can find it at market.telexai.com. The exchange is not operated by us and we simply provide a link to the decentralized exchange ForkDelta, which will allow you to trade using MetaMask (highly recommended https://metamask.io or https://brave.com).

The first step in the upgrade process will be to delist TLX from Yobit, which will be followed by the airdrop of the new TLX tokens to the addresses holding the old TLX. We will update you about the developments as it progresses. Any interested parties may also keep an eye on Yobit’s announcements for further delisting information.

Sincerely,

TeleX AI Team

telexai

Buy and sell cryptocurrencies with a simple chat.

Can Soysal

Written by

telexai

telexai

Buy and sell cryptocurrencies with a simple chat.

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