Blockchain security firm SlowMist has warned of a significant increase in phishing attacks targeting the TON ecosystem, which is linked to the Telegram messaging app.

The phishing scams are exploiting the open nature of the Telegram platform, with attackers spreading malicious links and bot forms through message groups, airdrops, and other deceptive methods to steal users' TON wallet credentials and assets.

Users with anonymous Telegram numbers, which are used to create accounts without SIM cards, are particularly vulnerable. If these anonymous numbers are compromised, it could lead to the loss of the associated Telegram account and TON wallet, unless the user has enabled two-step verification.

The surge in phishing attacks coincides with the rapid growth of the TON ecosystem, which has seen its total value locked (TVL) surge by 4,500% so far in 2024. This expansion has been driven by the popularity of TON-based projects like the Toncoin (TON) cryptocurrency and the Notcoin (NOT) play-to-earn token.

The rising security threats pose a significant risk to the TON ecosystem's user appeal and the price of the Toncoin token, which has already seen a 4.71% decline.