As an analyst with extensive experience in the blockchain industry, I am deeply concerned about the recent surge in phishing attacks targeting the Open Network (TON) ecosystem. Having witnessed the rapid expansion of this platform and its associated decentralized applications (DApps) and tokens, I can attest to the immense potential and opportunity that TON presents. However, this growth comes with a significant risk: the proliferation of phishing activities within the ecosystem.
As a crypto investor, I’ve noticed an unsettling trend in the TON blockchain platform linked to Telegram in 2024. With its rapid expansion, this ecosystem has unfortunately become a breeding ground for phishing attacks. Security specialists from SlowMist have issued warnings about a spike in fraudulent activities, which are primarily targeting decentralized applications (DApps) and tokens built on TON’s blockchain. I urge fellow investors to remain vigilant and take necessary precautions to safeguard their investments.
As a security analyst, I’ve noticed an uptick in phishing attempts within the TON ecosystem, as pointed out by Yu Xian, founder of SlowMist. These malicious activities are designed to deceive users into revealing their TON wallet information, potentially leading to substantial losses of cryptocurrency.
In the TON ecosystem, fishing in the form of spam messages has become prevalent. The Telegram ecosystem’s free-flowing nature allows for the widespread dissemination of fishing links or bot forms through message groups and broadcast methods to lure users into their TON wallets. When a user’s Telegram account associated with their TON wallet is compromised, it means that the corresponding Telegram account has fallen prey to these fishing tactics.β Cos(δ½εΌ¦)πΆβπ«οΈ (@evilcos) June 24, 2024
Xian highlighted the risk for Telegram users with unidentified accounts, as these don’t necessitate a SIM card. The loss of access to such accounts due to phishing scams could result in the inability to manage linked TON wallets, unless safeguards like passwords or two-factor authentication have been implemented.
Phishing incidents have increased in tandem with TON‘s exceptional growth in Total Value Locked (TVL). In 2024 alone, TVL has experienced a phenomenal increase of over 4500%. This surge can be attributed to the widespread popularity of projects like Toncoin (TON) and Notcoin (NOT), which have gained significant traction among Telegram users involved in play-to-earn gaming and token transactions.
As a researcher studying the impact of Telegram’s anonymous number feature introduced at the end of 2022, I’ve found that while its initial intent was to bolster user privacy through SIM-less logins, unintended consequences have emerged. Unfortunately, this functionality has given scammers an opportunity to target unsuspecting users who may not have adequately secured their accounts.
As the TON ecosystem grows, it’s essential for stakeholders to remain vigilant and implement robust security measures to shield their assets from phishing attacks. The blockchain industry confronts a significant hurdle in striking a balance between openness and security to preserve trust and foster development in decentralized systems like TON.
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2024-06-24 14:12