TON ecosystem faces phishing surge amid 4500% increase in TVL

Amid increased network activity and the rally in the price of its native token, TON, the Open Network ecosystem is experiencing a rise in phishing attacks.

Attackers are luring TON wallets from modest users using airdrops and other deceptive methods.

Telegram users with anonymous numbers at risk

Yu Xian, founder of blockchain security firm SlowMist, issued a warning about these malicious activities that are spread primarily through group chats, where attackers reportedly employ deceptive tactics such as fake airdrops to compromise users’ TON wallets and steal assets, including nfts.

Anonymous Telegram numbers, which are similar to phone numbers, are increasingly being used by many to create Telegram accounts. The platform expanded its login options in late 2022 with the addition of anonymous number features, which eliminated the need for a SIM card. This method is based on blockchain technology, allowing users to access the platform.

Users of these accounts are at greater risk of being targets of these phishing attacks, according to the executive. x.com/evilcos/status/1805051980634857798″ target=”_blank” rel=”noopener” data-wpel-link=”external”>cheep the 24th of June.

If this is a phishing attack, it means that the corresponding Telegram account may also be lost, unless the user has enabled a separate password or two-step verification.

The spectacular growth of the TON ecosystem in 2024

Open Network has witnessed significant growth and increased activity this year. The daily transfer volume of the decentralized Layer 1 blockchain recently reached 10% of bitcoin's figures. For context, the average daily bitcoin transfer is $50 billion, but TON's daily transfer volume was found to be between $5 billion and $10 billion last week.

The surge in network activity can be attributed to several important developments, including an advertising system on Telegram that aimed to distribute half of the revenue generated by channels directly to their owners exclusively in the TON cryptocurrency.

Meanwhile, the launch of The Open League program in early April introduced a long-term incentive structure designed to engage and reward stakeholders within the TON community.

Also, the latest DeFiLlama data TON's growth was further highlighted by revealing that its total value locked (TVL) rose to nearly $650 million on Monday, representing an increase of nearly 7% in just one week. This also marked an increase of more than 4,540% from the beginning of 2024, when the TVL figure was close to $14 million.

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