Well, I don't say there was no hole. There probable was some holes, as for every system. I just said there was no security problems.
First, someone had to pay while you were connected to the service, and at 75bps (upload speed) it whould have been very expensive to try to crack a service.
Secondly you had strictly no information about the server behind the service. It was like a telnet interface, but wrapped by Frante Telecom to a X25 network.
Finally, there was no such things as open proxies, Tor network or bouncing servers, so France Telecom was able to track every connection to the Minitel service to the phone line which did the call.
But I remember there still was a problem with some specific game services. In those services you could win stuff like hi-fi system, TV sets, etc. by just staying connected to the service (without really playing). These services sent some special escape codes to the Minitel to prevent automatic disconnect when no user activity was detected (even if such use was forbidden by France Telecom). And some people were connecting Minitels all day long from vacant offices at their work. But ultimetely, their company had to pay for the game.