TON Coin Faces Rising Phishing Threat Amid Network Activity Surge in 2024
- The Open Network (TON) ecosystem is experiencing an increase in phishing attacks coinciding with the rise of its native token.
- Hackers are using fraudulent airdrops and other deceptive techniques to access users’ TON wallets.
- These phishing attacks are particularly prevalent among Telegram users who use anonymous numbers.
Discover the latest security risks in the TON ecosystem and learn how to protect your assets from phishing attacks.
Telegram Users with Anonymous Numbers Face Increased Phishing Threats
Yu Xian, the founder of blockchain security firm SlowMist, recently highlighted these threats in a warning. Malicious actors are exploiting group chats on Telegram, using fake airdrops and other deceptive methods to compromise users’ TON wallets and steal digital assets, including NFTs. The introduction of anonymous numbers, which don’t require a SIM card, has made it easier for users to create Telegram accounts but also increased the risks.
Since the platform’s expansion of login options in late 2022, using blockchain technology to enable anonymous logins, more users have opted for these accounts. However, these users are at heightened risk of phishing attacks, leading to the potential loss of their Telegram account unless additional security measures like passwords or two-step verification are in place.
Spectacular Growth of the TON Ecosystem in 2024
The Open Network has seen impressive growth and activity in 2024. The decentralized Layer 1 blockchain’s daily transfer volume has surged to nearly 10% of Bitcoin’s daily transfer figures, which typically average around $50 billion. Recently, TON’s daily transfer volume has been fluctuating between $5 billion and $10 billion, underscoring its vibrant ecosystem.
The uptick in network activity can be linked to several key initiatives, including an advertising platform on Telegram that allocates half of the revenue generated by channels to their owners in TON cryptocurrency. Additionally, the launch of The Open League program in April introduced a framework designed to incentivize and reward community stakeholders over the long term.
Further emphasizing TON’s growth, DeFiLlama data indicated a remarkable increase in total value locked (TVL). As of Monday, the TVL reached nearly $650 million, a 7% rise in just one week, and an astonishing growth of over 4,540% since the beginning of 2024 when the TVL was approximately $14 million.
Conclusion
In conclusion, while the TON ecosystem enjoys significant growth and success, it remains essential for users to stay vigilant against phishing attacks. Taking proactive steps, such as enabling two-step verification and setting strong passwords, can help safeguard digital assets. As the ecosystem continues to evolve, it will be crucial to balance growth with robust security measures to protect the community.
