As an experienced analyst, I’ve seen my fair share of crypto scams and security breaches in the blockchain industry. The recent surge in phishing attacks and scams targeting users in the TON and Toncoin ecosystem is concerning. The use of anonymous Telegram numbers and promises of NFTs are classic tactics used by scammers to lure unsuspecting victims into giving up their assets.
Expert: SlowMist, a leading blockchain security firm, has reported a surge in crypto scams within The Open Network (TON) and Toncoin community. According to Yu Xian, founder of SlowMist, phishing attacks are on the rise in this ecosystem. These deceitful tactics are primarily disseminated through groups, with users often lured by seemingly authentic airdrops and alluring, fraudulent offers.
In the TON ecosystem, fishing in the form of link sharing or bot interactions has become more prevalent. The free-spirited nature of the Telegram ecosystem allows for this proliferation, with many fishing links (or bot forms) being spread through message groups and other enticing methods to lure users into giving up their TON wallet assets, including NFTs such as Anonymous Telegram Numbers, which are often used for creating Telegram accounts. When these numbers are taken, it means the corresponding Telegram accounts are compromised.
— Cos(余弦)😶🌫️ (@evilcos) June 24, 2024
Two-step Verification Against Toncoin Crypto Scam
As a researcher studying cybersecurity threats in the TON blockchain ecosystem, I’ve discovered that attackers employ various tactics to breach users’ wallets and steal assets. One common method involves exploiting Anonymous Telegram Numbers or the allure of Non-fungible tokens (NFTs). These anonymous Telegram numbers function much like regular mobile phone numbers used for creating Telegram accounts. If an attacker manages to pilfer a number, they may gain access to the associated Telegram account, unless separate password protection is in place.
Two-step verification can help secure accounts on Telegram and prevent scammer activities. Some people think that the platform’s freedom and adaptability make it an attractive target for fraudsters. It seems that these scammers employ similar tactics repeatedly. Therefore, users of Telegram are encouraged to remain cautious and attentive.
In the cryptocurrency world, there has been a surge in fraudulent activities related to crypto, with scammers taking advantage of new developments. For instance, Ripple Labs Inc.’s announcement of their upcoming stablecoin, Ripple USD (RLUSD), which is equal in value to the US dollar, was met with swift action from malicious actors. They created a counterfeit token on the XRP Ledger, causing alarm among industry professionals.
The XRP Ledger’s validator, identified as Vet, has cautioned the general public. They made it unequivocally clear that the authentic RLUSD stablecoin has not been released for use yet. To avoid falling victim to deceptive schemes, users are encouraged to steer clear of phony accounts and instead stay alert against potential scams.
More Crypto Scams In the Industry
As a researcher studying the latest trends in cybersecurity, I’ve come across an intriguing scam that has been making waves in the crypto community. Recently, Trust Wallet, a widely-used decentralized wallet service provider, issued a warning on June 7th about counterfeit versions of its app being circulated to deceive innocent investors. These fake apps, designed to mimic Trust Wallet’s authentic one, are intended for conducting crypto transactions and storage. The twist in this story is that these cloned apps were discovered on reputable marketplaces such as Xiaomi and Amazon. This incident highlights the importance of verifying the authenticity of downloaded applications, especially those dealing with valuable digital assets.
As a researcher, I’ve come across unfortunate instances where unsuspecting investors have suffered substantial losses due to deceptive practices in the cryptocurrency market. Just recently, within the past two weeks, my attention was drawn to a potential fraudulent exchange named Ethfinance. The Washington State Department of Financial Institutions (DFI) initiated an investigation following a complaint from an investor who reported a loss of $310,000 on this platform.
As a researcher studying financial fraud, I’ve come across many cases that share similar characteristics with the one at hand, which the DFI (Dubious Financial Institutions) has identified as potentially involving “Advance Fee Fraud.” In this scheme, perpetrators lure victims with enticing offers of substantial returns on their investments. However, before these promised returns can be realized, victims are required to make an upfront payment or fee. To protect yourself and your assets, exercise extreme caution and remain vigilant against such scams.
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2024-06-24 14:06