The founder of SlowMist has cautioned that the Telegram messenger ecosystem is “too open” for exploiters targeting the TON ecosystem.
The Open Network (TON), a blockchain platform linked to Telegram, is facing increasing pressure from phishing attacks, according to a blockchain security expert.
The founder of blockchain security firm SlowMist has warned that the TON ecosystem—which includes various decentralized applications (DApps) and tokens based on the TON blockchain—has been increasingly targeted by phishing attackers during its rapid growth in 2024.
“There are more and more phishing activities in the TON ecosystem,” SlowMist founder Yu Xian wrote in a post on X (formerly Twitter) on June 23.
Xian explained that phishing vulnerabilities in the TON ecosystem are due to scammers easily accessing message groups where they post phishing links. He stated:
“The Telegram ecosystem is too open, and many phishing links or bot forms are spread through message groups, airdrops, and other deceptive methods to steal users’ TON wallets in large numbers.”
Telegram Users with Anonymous Numbers Are More at Risk
Phishing risks on Telegram are higher for users with anonymous numbers, which are used to create Telegram accounts not tied to SIM cards, Xian noted.
“If these accounts are phished, the corresponding Telegram account may also be lost unless the user has enabled an independent password or two-step verification,” the security expert wrote.
The option of “anonymous numbers” was introduced on Telegram in late 2022, allowing users to log in without using a SIM card. Instead, users can log in using blockchain-based anonymous numbers available on platforms like Fragment.
TON Ecosystem TVL Surged 4,500% in 2024
The spike in phishing activity on the TON ecosystem comes amid massive growth in TON-based projects, including TON’s native cryptocurrency, Toncoin (TON), and the play-to-earn token Notcoin (NOT).
Clicker games and tokens like Notcoin have become key drivers of TON’s ecosystem in 2024, gaining significant popularity among Telegram users.
Summary Review: The increasing phishing attacks highlight the need for enhanced security measures within the TON ecosystem as it continues to grow. Users are advised to remain vigilant and adopt additional security steps such as two-step verification to protect their assets.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
