Value

when

April

Security

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/phishing-scams-target-ton-users" data-wpel-link="internal" rel="noopener noreferrer nofollow">Phishing Scams Target TON Users</a><br></p>
<p style="text-align: justify">The Telegram Open Network (TON) ecosystem has been hit hard by a wave of phishing attacks during a period of remarkable growth. In 2024, the Total Value Locked (TVL) within the network surged by an astounding 4,500%. Cybercriminals primarily targeted accounts created with anonymous Telegram numbers, exploiting vulnerabilities to steal assets, including NFTs and native tokens.</p>
<h2 id="what-methods-do-cybercriminals-use">What Methods Do Cybercriminals Use?</h2>
<p style="text-align: justify">Phishing strategies employed by attackers included deceptive airdrop schemes and other fraudulent techniques. Once access to a user’s TON wallet was obtained, cybercriminals could siphon off digital assets. According to Yu Xian, the founder of blockchain security firm SlowMist, these scams were mainly propagated through Telegram group chats.</p>
<p style="text-align: justify">The risk increased significantly after Telegram allowed account creation with anonymous numbers, bypassing the need for SIM cards. While this feature enhanced user accessibility, it inadvertently heightened security risks.</p>
<h2 id="when-are-risks-amplified">When Are Risks Amplified?</h2>
<p style="text-align: justify">The threat level escalates if users neglect to enable additional security layers such as separate passwords or two-factor authentication. A successful phishing attack can jeopardize not only the user’s TON wallet but also their Telegram account.</p>
<p style="text-align: justify">Despite these <a href="https://newslinker.co/category/cybersecurity/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">security challenges</a>, the TON ecosystem has experienced substantial growth. The decentralized Layer-1 Blockchain saw daily transfer volumes rise to 10% of <a href="https://en.bitcoinhaber.net/bitcoins-critical-threshold-and-market-consolidation-analyst-insights-and-etf-speculations" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s average figures. Notably, Bitcoin’s daily transfer volume hovers around $50 billion, while TON’s has been between $5 billion and $10 billion recently.</p>
<h2 id="key-developments-fueling-growth">Key Developments Fueling Growth</h2>
<p style="text-align: justify">Several key initiatives have driven this activity. Telegram’s new advertising system, which redistributes half of channel revenues in TON cryptocurrency, has been a major catalyst. Additionally, the launch of The Open League program in April provided a long-term incentive structure to engage and reward stakeholders within the TON community.</p>
<p style="text-align: justify">Recent data from DeFiLlama highlighted that TON’s TVL has soared to around $650 million, marking an increase of nearly 7% in just one week. This dramatic rise represents over a 4,540% increase since early 2024, when the TVL was approximately $14 million.</p>
<h2 id="concrete-security-measures">Concrete Security Measures</h2>
<p style="text-align: justify">– Enable two-factor authentication to add an extra layer of security.<br> – Avoid using anonymous numbers for account creation, if possible.<br> – Regularly update passwords and use unique, strong combinations.<br> – Be cautious of unsolicited messages offering airdrops or other incentives.</p>
<p style="text-align: justify">While the impressive growth of the TON ecosystem highlights its potential, it also underscores the need for robust security measures to protect users from escalating phishing threats.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/phishing-scams-target-ton-users" data-wpel-link="internal" rel="noopener noreferrer nofollow">Phishing Scams Target TON Users</a></h5>

Phishing Scams Target TON Users

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