The number of scams targeting the Toncoin (TON) ecosystem on the messaging app Telegram is on the rise, as reported by blockchain journalist Colin Wu. According to Wu, the blockchain security firm SlowMist has identified numerous phishing attacks taking place within the layer-1 blockchain ecosystem, with many of these scams targeting users’ TON wallets, particularly those using Anonymous Telegram Numbers.

In addition to these phishing scams, cybersecurity firm Kaspersky has also brought attention to a pyramid scheme focused on Toncoin, which is being promoted on Telegram. The scheme involves scammers enticing users to invest money, purchase ‘booster’ tariffs, and invite friends in exchange for earning commission from every coin invested. This scam has been active since at least November 2023 and has targeted users in Russia and other countries.

The scammers promise earnings from two sources: a fixed payment of 25 TON for each invited friend and commission based on the booster tariff purchased by referrals. However, Kaspersky has identified this as a classic pyramid scheme where only the scammers profit, while all participants end up losing their investments.

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