Vulnerabilities within the TON ecosystem
According to Liu Xian, founder of blockchain security firm SlowMist, the TON ecosystem, which includes a variety of decentralized applications (DApps) and tokens, has become a prime target for phishing attackers. Xian noted that vulnerabilities within the TON ecosystem stem from the ease with which scammers can infiltrate Telegram message groups, post phishing links, and other deceptive tactics to lure users into hacking their TON wallets.
Telegram’s “very free” ecosystem
The integration of the TON ecosystem with Telegram’s messaging platform has been a double-edged sword. Xian explained that the Telegram ecosystem is “very free,” allowing scammers to easily spread “phishing links — or bot templates” through message groups, airdrops, and other deceptive tactics to target TON users in droves.
Risks faced by Telegram users with unknown numbers
Phishing risks on Telegram are particularly high for users who use anonymous numbers to create their accounts. These anonymous numbers, which are not linked to SIM cards, were introduced on Telegram in late 2022, allowing users to log in using anonymous blockchain-based numbers available on platforms like Fragment. Sheyan warned that if these anonymous numbers are compromised through phishing, it could result in the loss of the corresponding Telegram account, unless the user implements additional security measures such as a separate password or two-step verification.
The explosive growth of the TON ecosystem
The increase in phishing attacks on the TON ecosystem coincides with its remarkable growth in 2024. The TON blockchain saw a staggering 4,500% increase in its total value of the token (TVL), reaching $648 million, according to data from DefiLlama.
Toncoin (TON) and Notcoin (NOT) Rise
One of the major factors behind this growth has been the popularity of TON’s native cryptocurrency, Toncoin (TON), and its gaming token Notcoin (NOT). These tokens have gained significant traction among Telegram users, contributing to the overall expansion of the TON ecosystem.
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Clicker games and tokens fuel growth
The TON ecosystem has also seen a surge in the adoption of tap and token games, such as Notcoin, which has become a major contributor to the platform’s growth in 2024. These gaming-focused apps and tokens have proven to be a huge attraction for Telegram users, further expanding the TON ecosystem. Environmental.
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Increased risk of phishing and fraud attacks
As the TON ecosystem continues to grow, security experts have repeatedly warned of the escalating risk of phishing and fraud attacks targeting its users. In April 2024, cybersecurity firm Kaspersky alerted the public to a major scam involving unofficial Telegram bots stealing users’ coins by linking their Wallet, a third-party cryptocurrency wallet on Telegram, to the botnet.
Conclusion
Unfortunately, the rapid growth of the TON blockchain has coincided with an increase in phishing attacks targeting its ecosystem. As the platform continues to gain momentum, with TVL increasing by a staggering 4,500% in 2024, the need for robust security measures and user education has become paramount. The TON Foundation must proactively address these security concerns and work closely with the community to mitigate rising phishing threats. Only by prioritizing user safety and transparency can the TON ecosystem achieve its full potential and maintain the trust of its growing user base.
