TON blockchain integration improves digital asset security
Kobo, a digital asset protection and wallet provider, has announced that it supports the Open Network (TON).
This integration brings Cobo's comprehensive security solutions to the TON blockchain, including security wallet and multi-party computing wallet technology.
Through the partnership, Kobo will integrate Ton's native Toncoin (TON) token, NotCoin (NOT) and stablecoins such as Tether (USDT).
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Combination of tones
The integration between Kobo and Ton follows a lot of Web3's support for blockchain, which powers Telegram's new advertising platform.
The integration aims to improve the security and flexibility of digital asset management for institutional clients and to enhance Cobo's service offerings.
Although adding the Ton blockchain to Kobo Services could expand token support for the wallet provider, Ton's multi-chain architecture and sharding technology could present several technical hurdles.
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Regulatory compliance
Kobo's platform has a track record of regulatory compliance as an institutional client service provider.
The partnership is a strategic move for Kobo as Toncoin was recently approved by Kazakhstan's Financial Services and Regulatory Committee (AFSA).
Following AFSA's approval, Toncoin has joined the list of 107 cryptocurrencies approved by the government of Kazakhstan.
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Like shooting ‘fish' in a barrel
Despite the success of the Ton ecosystem, phishing attacks on the blockchain have increased, according to SlowMist founder Yu Xian.
On June 24, Xian argued that Telegram's ecosystem is “too free,” with phishing links spread through forum message groups, airdrops and other “deceptive methods.”
Although Telegram Messenger typically requires phone numbers to be linked to accounts, Xian noted that the risk of phishing is higher for users with anonymous numbers.
Users of this nature do not have accounts linked to their SIM cards, and as such, their accounts can be lost if stolen by bad actors on the platform.
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