Caution Phishing activities pose a threat to the TON ecosystem

With the emergence of Telegram’s The Open Network (TON) ecosystem, it comes as no surprise that it has become a prime target for malicious individuals seeking to obtain private information and assets. Phishing attacks have seen a significant increase within the TON ecosystem, and Yu Xian, also known as Mr. Cos, the founder of blockchain security firm SlowMist, has issued a warning about this growing threat. These phishing links are being circulated in Telegram groups, specifically targeting users’ TON wallets.

Mr. Cos explains, “The Telegram ecosystem provides too much freedom, allowing phishing links and bot forms to be spread through message groups, airdrops, and other deceptive methods, enticing users to unknowingly give up their TON wallets in large numbers.”

Hackers are particularly interested in non-fungible tokens (NFTs), especially Anonymous Telegram Numbers, which are similar to mobile phone numbers and are commonly used to create Telegram accounts. If these NFTs are phished, it means that the corresponding Telegram account could also be compromised unless the user has enabled Two-Step Verification as an added security measure.

The TON ecosystem has expanded its attack vector with the introduction of a new in-app digital currency called Telegram Stars. This currency aims to simplify the purchase of digital goods and services across all mini-apps on Telegram, and users can acquire it using fiat currency or directly within the TON ecosystem.

Furthermore, Telegram has partnered with Tether (USDT) to drive the adoption of cryptocurrencies through its messaging platform. As part of this collaboration, the stablecoin has been launched on the TON blockchain. It is important to exercise caution when dealing with Tether and the new cryptocurrency within the growing TON crypto ecosystem. Additionally, the original token, Toncoin, is currently priced at $7.23, experiencing a 7.80% decline over the week but a notable 18.63% increase this month.