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Market News

SlowMist Warns of Rising Phishing Attacks in TON Ecosystem

Xian highlighted that users with anonymous Telegram accounts, not requiring SIM cards, are especially vulnerable.

Written By Dishita Malvania Dishita Malvania
Fact Checked by Dhara Chavda Dhara Chavda
Published 2024-06-24·Updated 2 years ago
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SlowMist Warns of Rising Phishing Attacks in TON Ecosystem

Phishing attacks are plaguing the Telegram-linked blockchain platform, The Open Network (TON), as it experiences rapid expansion in 2024. Security experts from SlowMist have raised alarms about a surge in fraudulent activities within the TON ecosystem, targeting decentralized applications (DApps) and tokens based on its blockchain.

Yu Xian, founder of SlowMist, highlighted that “There are more and more phishing activities in the TON ecosystem.” These efforts aim to trick users into divulging their TON wallet details, risking significant losses of cryptocurrency.

TON 生态的钓鱼开始多了,Telegram 生态过于自由的特点,许多钓鱼链接(或 bot 形式)通过消息群组方式传播,空投等诱骗方式来批量钓走用户 TON 钱包里的有关资产(包括 NFT,特别的如 Anonymous Telegram Numbers,类似手机号,许多人用于创建 Telegram 账号,这个被钓走,意味着对应的 Telegram…

— Cos(余弦)😶‍🌫️ (@evilcos) June 24, 2024

Xian emphasized that users with anonymous Telegram accounts, which don’t require a SIM card, are particularly vulnerable. Losing access to such accounts due to phishing could mean losing control over associated TON wallets unless additional security measures like passwords or two-step verification are in place.

The rise in phishing incidents coincides with TON’s remarkable growth in Total Value Locked (TVL), which has surged by an astounding 4,500% in 2024. This boom is fueled by the popularity of projects like Toncoin (TON) and Notcoin (NOT), particularly among Telegram users engaging in play-to-earn gaming and token activities.

The anonymous number feature on Telegram, introduced in late 2022, initially aimed to enhance user privacy by enabling SIM-free logins. However, it has inadvertently provided scammers with a means to exploit unsuspecting users who may not have fortified their accounts with robust security measures.

As TON’s ecosystem continues to expand, stakeholders are increasingly urged to exercise caution and adopt stringent security protocols to safeguard their assets against phishing threats. The blockchain community faces a pivotal challenge in balancing openness and security to sustain trust and growth in decentralized platforms like TON.

Also Read: Pantera Capital Seeks Additional Capital for TON Investments

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Dishita Malvania
By Dishita Malvania
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Dishita Malvania is a Senior Crypto Journalist at The Crypto Times, based in Ahmedabad, India. She manages extensive daily news operations, tracking global digital asset trends, major international summits, market momentum, and localized exchange environments. Her investigative reporting covers India's evolving regulatory updates and enforcement actions, ensuring comprehensive documentation of regional market upheavals. Dishita holds a B.Tech degree in Computer Engineering, with an additional certification in Digital Media. Before joining The Crypto Times, she built a massive catalog of tech and media coverage. Her core reporting beats include crypto regulation and policy, blockchain security and cybercrime, AI in finance, Web3 infrastructure, and crypto fraud investigations and enforcement actions. Her three years of high-volume digital journalism have shaped her rapid fact-checking capabilities, source communication, and clear reporting style, making her work widely cited across premier global news outlets including Entrepreneur.com, The Independent, The Verge, and Metro.co.uk.
Dhara Chavda
By Dhara Chavda
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Dhara Chavda is a Research Analyst at The Crypto Times. She covers U.S. crypto regulation — including the CLARITY Act and GENIUS Act — DeFi security and major protocol exploits, and investigations into crypto fraud and enforcement actions. Her work emphasizes primary sourcing and on-chain verification over secondary commentary. Dhara joined The Crypto Times in 2020 and has followed every major market cycle since — the 2021 bull run, the 2022 Terra and FTX collapses, the 2023 banking turmoil, the 2024 spot Bitcoin ETF launch, and the 2025–2026 regulatory cycle — first assigning and reviewing the desk's coverage, and now writing it herself. Her reporting has been cited by international outlets including TheStreet and Argentina's La Nación. She holds a Bachelor of Engineering in Computer Engineering from Gujarat Technological University (GTU), which informs her technical reporting on on-chain data, smart contract analysis, and protocol architecture.

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