SlowMist warns that Ton’s environment is flooded with phishing attacks
Telegram-based blockchain platform Open Network (TON) is under pressure from increasing phishing attacks on its ecosystem, a blockchain security expert has warned.
According to the founder of the blockchain security firm SlowMist, the TON ecosystem – a variety of decentralized applications (DApps) and tokens based on the TON blockchain – will expand in 2024 in the development of phishing attacks.
SlowMist founder Yu Xian said in an X post on June 23, “There is an increasing number of phishing jobs in the Ton ecosystem.
According to Xian, phishing vulnerabilities in the Ton ecosystem are linked to scammers' easy access to message groups where they post phishing links. The official said:
“The Telegram ecosystem is very free, and many phishing links – or bot forms – are distributed through message groups, airdrops and other deceptive methods to lure tons of users in droves.
Telegram users with anonymous numbers are more at risk
Phishing risks on Telegram Messenger are higher for users with anonymous numbers, which are used to create Telegram accounts that are not linked to SIM cards, Xian said.
The security expert said, “This means that the corresponding Telegram account can be lost unless the fraudulent users are able to use a neutral password or two-factor authentication.”
An “anonymous numbers” option will be introduced by Telegram in late 2022, allowing users to log into Telegram without using a SIM card.
Instead of relying on a SIM card, users can enter blockchain-based anonymous numbers through platforms like Fragment.
Tonnage TVL has grown by 4,500 percent by 2024 so far.
Major growth in phishing activity on the Ton ecosystem comes from Ton-based projects, including Ton's native cryptocurrency, TonCoin (TON), as well as the game-to-earn token NotCoin (NOT).
Click games and tokens like NotCoin They are becoming the key drivers of the Toon ecosystem in 2024 and are gaining popularity among Telegram users.
Related: Binance merges USDT on TON, opens transactions
According to data obtained by BitGet, at the time of writing this article, the Ton ecosystem contains 43 tokens with a total capitalization of 19.2 billion dollars. Total locked-in value (TVL) on various tonnage projects currently stands at $648 million, up 4,500% from January 1, 2024, according to Defillama data.
In the year Amidst the significant growth of the 2024 ton, many security platforms have been warning users against phishing and fraudulent attacks.
In April, security experts at cybersecurity firm Kaspersky warned the public of a massive scam involving users of the Ton ecosystem. The scam involves using tools such as unofficial Telegram bots to steal users' coins by connecting third-party cryptocurrency wallets on Telegram to the bot system.
Cointelegraph reached out to the Ton Foundation for comment on the growing number of phishing attacks on the Ton ecosystem, but did not receive a response at the time of publication.
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