SlowMist Issues Important Warning for TON Ecosystem Users

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Phishing links are frequently circulated in Telegram groups, through airdrops, and other deceptive methods to trick users into revealing their TON wallets.

The rise of The Open Network (TON) ecosystem has drawn the attention of malicious actors looking to steal private information and assets. There has been a notable increase in phishing attacks targeting TON wallets. Yu Xian, the founder of blockchain security firm SlowMist, warned about this issue on June 24. He explained that phishing links are frequently circulated in Telegram groups, through airdrops, and other deceptive methods to trick users into revealing their TON wallets.

Hackers often use anonymous Telegram numbers. These numbers work like mobile phone numbers and are used by many people to create Telegram accounts. This makes them a big target for cybercriminals. If these numbers get phished, the connected Telegram account might be lost, unless the user has set up an independent password.

TON Network Attracting Cybercriminals

The TON blockchain has gained significant attention as Telegram’s chosen Web3 solution. Telegram is one of the most popular messaging apps in the world, with over 900 million users. This vast user base provides a strong foundation for the TON ecosystem. According to on-chain analytics company CryptoQuant, the TON blockchain’s daily transaction volume ranges between $5 billion and $10 billion, showcasing its popularity and impressive growth. For comparison, Bitcoin’s average daily transfer volume is around $50 billion, and TON has already achieved 10% of Bitcoin’s capacity.

The number of TON token holders has increased dramatically, from 2.9 million to 32 million, representing over 1000% growth. This surge in users has significantly enhanced the credibility of the TON blockchain within the crypto community, further increasing its potential user base.

However, the growing popularity of TON has also attracted cybercriminals. Cybersecurity firm Kaspersky reported that scammers use the Telegram app and Toncoin, TON’s native cryptocurrency, to build pyramid schemes targeting crypto users. These schemes exploit users’ trust and familiarity with the Telegram platform to lure them into fraudulent activities.

This situation highlights the critical need for users to be cautious and vigilant. As TON continues to grow and attract more users, the risk of cyberattacks also increases. Users should be wary of unsolicited messages, phishing links, and suspicious activities within the ecosystem to protect their private information and assets.