Cybersecurity agency Kaspersky has reported a rise in fraud surrounding Toncoin.
In response to safety experts, Telegram’s help for The Open Community (TON) blockchain and the Toncoin (TON) token has led to scammers focusing on unsuspecting token holders.
Since November 2023, scams in opposition to Toncoin holders have elevated as curiosity and TON investments have ramped up. The attackers promote a fancy referral scheme to steal TON tokens from customers.
Potential victims are invited to hitch a Telegram bot supposedly designed to retailer cryptocurrency and hyperlink a web3 pockets to the bot’s system. Victims are then compelled to purchase “boosters” utilizing a bot. Scammers declare that customers should full this motion to begin incomes cash. Nevertheless, buying a booster makes the consumer irrevocably lose management over his cryptocurrency.
The scammers promise earnings from two sources: a flat fee of 25 TON for every pal the consumer refers to and a fee based mostly on the booster price bought by referrals. Kaspersky estimates that customers lose between $2 and $2,700 to scams.
In the meantime, Toncoin’s worth has fallen by greater than 5% over the previous 24 hours to $5.72, based on CoinMarketCap information. By month, TON’s costs have risen 10%, largely due to a number of initiatives involving the Telegram messenger.
Just lately, Telegram founder Pavel Durov announced the approaching addition of latest options to the appliance, together with the flexibility for sticker creators to obtain earnings from gross sales and a brand new perform for donations within the TON.