TON Network Faces Increasing Threats from Phishing Attacks
Blockchain platform The Open Network (TON) is currently facing a growing threat from phishing attacks, according to Yu Xian, the founder of blockchain security firm SlowMist.
Xian pointed out that phishing links and bots targeting TON are on the rise, with scammers taking advantage of the network’s open nature. He mentioned:
“The Telegram ecosystem is too free, and many phishing links (or bot forms) are spread through message groups, airdrops, and other deceptive methods to lure away users’ TON wallets in batches.”
Users with anonymous numbers on Telegram, particularly those not linked to SIM cards, are at a higher risk of falling victim to phishing attacks, as per Xian. He emphasized:
“If these [anonymous numbers] are phished away, it means that the corresponding Telegram account may also be lost, unless the user has enabled an independent password, i.e. Two-Step Verification.”
Additionally, hardware wallet provider Keystone supported Xian’s warning by noting that TON hackers are utilizing common phishing methods such as Zero-amount transfers and airdropping NFTs to targeted addresses.
Phishing scams pose a significant threat in the crypto space, where attackers impersonate legitimate entities to steal sensitive information and access victims’ crypto wallets.
According to a report by Scam Sniffer, Wallet Drainers, a type of phishing malware, are frequently deployed on phishing websites to deceive users into signing malicious transactions. This year alone, over $200 million worth of digital assets have been lost to these scams.
TON Network Flourishes Amidst Challenges
Despite the growing phishing threats, TON has been experiencing substantial growth in recent months, pushing its total value locked (TVL) to new heights. DeFiLlama data reveals that TON’s TVL has soared to about $649 million, a significant increase from $151 million just three months ago.
Furthermore, Tonstat data shows a simultaneous uptick in monthly active wallets and total accounts. With over 4.8 million monthly active wallets and 9 million activated wallets, TON sees an average of 49,000 new activations daily.
This impressive growth can be attributed to TON’s integration with Telegram. The introduction of tap-to-earn games like Notcoin, Hamster Kombat, and Blum has significantly boosted TON’s popularity, leading to increased usage and wallet activations.