The popular messaging platform Telegram’s TON blockchain, which supports the Toncoin token, has recently been targeted by scammers. Cybersecurity experts from Kaspersky have reported a significant increase in scam activities aiming to swindle Toncoins from users by exploiting the growing popularity and investment in TON since November 2023. This scam involves a strategic redirection scheme that tricks users into transferring their tokens to fraudulent operators.
Beware of This Method on TON
Scammers have ingeniously crafted a method where potential victims receive a link, seemingly from a trusted contact, inviting them to join a lucrative earnings program. The link leads to an unauthorized Telegram bot that encourages users to connect their Web3 wallets. To make their scheme appear legitimate, the fraudsters guide the users to purchase Toncoin through recognized and trustworthy sources, including the official Telegram bot, peer-to-peer markets, and cryptocurrency exchanges.
What Happens in the Scam Process?
As the scam unfolds, victims are persuaded to buy “boosters” from a separate unauthorized bot, deceived by promises that these transactions are crucial for earning potential. Once the boosters are purchased, victims lose all control over their funds, essentially funneling money directly to the scammers. Losses reported by users range from 2 to 2,700 US Dollars. The scammers extend their deceit by encouraging a referral program, which intensifies the scam into a pyramid scheme.
Points to Take into Account
- The scam has been active since at least November 2023.
- Scammers are using a mix of legitimate and fraudulent methods to appear credible.
- Losses per victim can be substantial, ranging up to 2,700 US Dollars.
The scam ultimately relies on social engineering tactics where the victims are manipulated into making financial decisions based on trust and the illusion of security. Users are advised to verify the authenticity of any bot and transaction on the TON network and should be wary of any unsolicited links or offers that seem too good to be true.