The Open Network (TON), a blockchain platform connected to Telegram, is currently facing a significant increase in phishing attacks within its ecosystem, as warned by a blockchain security expert. SlowMist, a blockchain security firm, reported that the TON ecosystem, which includes decentralized applications (DApps) and tokens based on the TON blockchain, has been increasingly targeted by phishing attackers due to its rapid growth in 2024.
Yu Xian, the founder of SlowMist, stated in a recent post on June 23 that there has been a rise in phishing activities within the TON ecosystem. Xian explained that the phishing vulnerabilities are linked to scammers gaining easy access to message groups, where they post phishing links. Xian also highlighted that users with anonymous numbers on the Telegram messenger are at a higher risk of falling victim to phishing attacks. Anonymous numbers are used to create Telegram accounts that are not linked to SIM cards. If these numbers are phished, it could result in the loss of the corresponding Telegram account, unless the user has enabled additional security measures such as an independent password or two-step verification.
The option of using “anonymous numbers” on Telegram was introduced in late 2022, allowing users to log in without a SIM card by utilizing blockchain-based anonymous numbers available on platforms like Fragment.
The increase in phishing activity within the TON ecosystem coincides with the significant growth of TON-based projects in 2024. Notable projects include TON’s native cryptocurrency, Toncoin (TON), and the play-to-earn token Notcoin (NOT). Clicker games and tokens like Notcoin have become major drivers of TON’s ecosystem, gaining massive popularity among Telegram users.
As of now, the TON ecosystem consists of 43 tokens with a total market capitalization of $19.2 billion, according to data from BitGet. The total value locked (TVL) in various TON projects currently stands at $648 million, marking a 4,500% increase since January 1, 2024, according to DefiLlama data.
Given the exponential growth of TON in 2024, several security platforms have been warning users about the rising threat of phishing and scams. In April, cybersecurity firm Kaspersky cautioned the public about a major scam involving TON ecosystem users. The scam involved unofficial Telegram bots that linked users’ Wallet, a third-party cryptocurrency wallet on Telegram, to the bot system in order to steal their coins.
Cointelegraph reached out to the TON Foundation for a comment on the increasing number of phishing attacks within the TON ecosystem but did not receive a response at the time of publication.