Toncoin

Foundation

Cybersecurity firm Kaspersky has reported an increase in fraud surrounding Toncoin. 
According to security <a href="https://www.kaspersky.com/blog/toncoin-cryptocurrency-scam/51042/" target="_blank" rel="">experts</a>, Telegram’s support for The Open Network (<a href="https://crypto.news/tag/The-Open-Network/" target="_blank" rel="">TON</a>) blockchain and the Toncoin (<a href="https://crypto.news/price/Toncoin/" target="_blank" rel="">TON</a>) token has led to scammers targeting unsuspecting token holders. 
Since November 2023, scams against Toncoin holders have increased as interest and TON investments have ramped up. The attackers promote a complex referral scheme to steal TON tokens from users. 
Potential victims are invited to join a <a href="https://crypto.news/tag/Telegram/" target="_blank" rel="">Telegram</a> bot supposedly designed to store cryptocurrency and link a <a href="https://crypto.news/tag/Web3/" target="_blank" rel="">web3</a> wallet to the bot’s system. Victims are then forced to buy “boosters” using a bot. Scammers claim that users must complete this action to start earning money. However, purchasing a booster makes the user irrevocably lose control over his cryptocurrency. 
 You might also like: <a href="https://crypto.news/ton-airdrop-meme-coin-traders/" rel=""> TON airdrops $2.2m to meme coin traders amid Toncoin’s new all-time high </a> 
The scammers promise earnings from two sources: a flat payment of 25 TON for each friend the user refers to and a commission based on the booster rate purchased by referrals. Kaspersky estimates that users lose between $2 and $2,700 to scams. 
Meanwhile, Toncoin’s price has fallen by more than 5% over the past 24 hours to $5.72, according to <a href="https://crypto.news/tag/CoinMarketCap/" target="_blank" rel="">CoinMarketCap</a> data. By month, TON’s prices have risen 10%, largely thanks to several initiatives involving the Telegram messenger. 
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 <img loading="lazy" decoding="async" width="1024" height="538" src="https://crypto.news/app/uploads/2024/04/Screenshot-2024-04-23-at-20.37.37-1024x538.png" alt="Scammers target Toncoin&nbsp;holders amid rising TON interest - 23"> 
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Recently, Telegram founder Pavel Durov <a href="https://crypto.news/pavel-durov-reveals-new-telegram-blockchain-features/" target="_blank" rel="">announced</a> the imminent addition of new features to the application, including the ability for sticker creators to receive income from sales and a new function for donations in the TON. 
 You might also like: <a href="https://crypto.news/ton-foundation-allocates-11m-toncoin-to-reward-usdt-users/" rel=""> TON Foundation allocates 11m Toncoin to reward USDT users </a>

Scammers target Toncoin holders amid rising TON interest

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