Rising Threats: How Scammers Exploit Telegram’s Support for TON Blockchain


  • Scammers use the referral links offered in private Telegram groups to defraud victims into incurring irreparable cash losses of $2 to $2,700.
  • Toncoin’s price has dropped sharply, falling 9.41% over the last week and 7.13% over the previous day, suggesting increased market volatility.

Scammers have unknowingly found a fruitful field thanks to Telegram’s introduction of support for The Open Network (TON) blockchain and its native token, Toncoin. Through the deft manipulation of the platform’s popularity, these scammers carry out elaborate schemes that put investors at serious danger.

Increased Activity in Scams Since at least November 2023

According to cybersecurity company Kaspersky, there has been a troubling cryptocurrency scam operating since then that aims to steal Toncoin (TON) from Telegram users worldwide. Also, the fact that this timeframe coincides with a surge in interest in and investment in TON highlights the opportunistic nature of cybercriminals.

The way the scam works is that victims are tricked into joining what is advertised as an “exclusive earning program” by using links that friends or acquaintances distribute. A purportedly unofficial Telegram bot that links to users’ Web3 wallets and facilitates cryptocurrency storage is the conduit for this operation. But the main objective is far darker, centered on stealing the victims’ money.

Scammers give their victims more legitimacy by telling them to buy Toncoin via reputable sources like the official Telegram bot, peer-to-peer marketplaces, or cryptocurrency exchanges.

Victims are then tricked into purchasing “boosters” from a different scam bot, which is a crucial stage at which they irreversibly lose financial control. Kaspersky claims that these boosters, which go by the wacky names “bike,” “car,” “train,” “plane,” and “rocket,” cost anywhere from 5 to 500 TON, which translates to losses of $2 to $2,700.

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Source: Kaspersky

TON Current Market Trend

There has been a slip in the price of TON. CoinMarketCap data shows that the token is currently trading at $5.65, down 7.13% over the last 24-hours and 9.41% over the last week. In light of such targeted schemes, this volatility highlights the dangers associated with cryptocurrency investments.

What’s interesting is, a pyramid scheme that poses as a referral program is at the heart of the scam’s tactics. It is recommended that victims form private groups on Telegram and invite friends through referral links that come with both Russian and English video instructions.

Financial loss is unavoidable when false lures such as promises of earning from two sources (a fixed payment for each friend recruited and commissions based on their booster purchases) are used.

On the other hand, Toncoin (TON) and ETFSwap (ETFS) are expected to outperform Solana (SOL) during the approaching bull market. This optimism is a result of their creative blockchain solutions and rising acceptance rates, as Crypto News Flash previously reported.

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