As a seasoned crypto investor with a knack for spotting red flags and a heart full of caution, I’ve been around long enough to know when something smells fishy. The TON Turbo saga is a textbook example of a scam that left many investors high and dry.
Following numerous user worries regarding withdrawals, the mini-app on Telegram named TON Turbo started erasing its online traces.
As an analyst, I’m sharing insights about TON Turbo, a project that operates within The Open Network ecosystem. This innovative platform allows users to partake in what they call Toncoin (TON) mining. By depositing cryptocurrency through a Telegram chat interface, users can potentially yield returns on their investment, with the promise of nearly double the initial capital. Moreover, this mining activity offers an exciting opportunity to earn both TON and Shiba Inu (SHIB), a popular memecoin.
As a crypto investor, I’ve encountered some issues when trying to withdraw my funds from this platform. The project’s Telegram channel seems to indicate that their deposit system functions like a one-way street, making it challenging for users to withdraw their assets.
Furthermore, it’s important to note that TON operates as a proof-of-stake blockchain, contrasting with proof-of-work networks such as Bitcoin. In the latter, individuals known as miners are responsible for validating transactions and creating new coins. However, in TON, network contributors are referred to as validators.
After users transferred cryptocurrency to the digital mining equipment, it appeared to generate earnings gradually; however, cashing out the rewards proved difficult. When users raised concerns about this problem, TON Turbo ceased responding to customer inquiries and blocked its chat forums.
During the period from July 27 to August 5, communication through the protocol was closed for responses, yet the team persisted in sharing promotional announcements on platforms like X and Telegram.
TON Turbo ghosts customers
TonTurbo boasted about establishing prominent collaborations, such as those with The Open Network, Tonkeeper, the mini-game Dogs on Telegram, and Shiba Inu.
As a researcher delving into the world of cryptocurrencies, I haven’t been able to substantiate these claims about alleged partnerships beyond the announcements made by TON Turbo. Regrettably, my attempts to seek clarification from the TON Turbo administrators have remained unanswered up until the time of publication.
As a crypto investor, I recently noticed that the project’s designated X page appears to have been removed and no longer accessible. This is somewhat concerning, considering its substantial presence on Telegram, boasting over 54,889 members, with around 10,600 users actively online at any given time. Upon my last check on Aug. 15, the conversation on crypto.news was predominantly filled with disgruntled users voicing their concerns and accusations towards the project, labeling it as a potential scam. This development has certainly raised some red flags for me.
1. The administrators of the project deactivated their Telegram profiles, and the exclusive social media platform flagged announcements about TON Turbo’s channel as fraudulent.
wording variation: It appears that numerous to a great number of investors experimented with the claimed Telegram mining equipment through social media and our project’s Telegram channel. The total number of users who might have incurred losses isn’t clear, nor is the exact amount potentially lost due to this suspected exit scam yet determined.
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2024-08-15 22:26