The founder of SlowMist has issued a stark warning about the vulnerability of the Telegram messenger ecosystem to exploiters targeting The Open Network (TON), highlighting a surge in phishing attacks.

The blockchain security expert expressed concern over the growing incidence of phishing activities within the TON ecosystem, attributing this trend to its rapid expansion throughout 2024. According to Yu Xian, founder of SlowMist, the decentralized applications (DApps) and tokens operating on the TON blockchain have become prime targets for malicious actors.

In a recent post on X, Xian pointed out that the prevalence of phishing vulnerabilities within the TON ecosystem is exacerbated by the unrestricted nature of Telegram groups. Scammers leverage these groups to disseminate phishing links and deceptive airdrops, aiming to lure unsuspecting users into compromising their TON wallets.

"The Telegram ecosystem is too free, and many phishing links—or bot forms—are spread through message groups, airdrops, and other deceptive methods to lure away users’ TON wallets in batches," stated Xian, highlighting the ease with which scammers operate within Telegram's messaging infrastructure.

Xian further cautioned that users with anonymous numbers on Telegram are particularly vulnerable to phishing attacks. These anonymous numbers, introduced in late 2022 to enable SIM card-independent logins, pose additional risks as they lack the security measures tied to verified phone numbers.

"If these are phished away, it means that the corresponding Telegram account may also be lost, unless the user has enabled an independent password or two-step verification," Xian emphasized, underlining the importance of robust security practices to mitigate such risks.

The surge in phishing incidents coincides with the exponential growth of the TON ecosystem in 2024, driven by the proliferation of projects utilizing TON's native cryptocurrency, Toncoin (TON), and play-to-earn tokens like Notcoin (NOT). These tokens, alongside clicker games, have significantly bolstered TON's adoption among Telegram users, propelling its ecosystem to new heights.

As of the latest data from Bitget, the TON ecosystem hosts 43 tokens with a collective market capitalization of $19.2 billion. Furthermore, the total value locked (TVL) in various TON projects has skyrocketed by 4,500% since the beginning of 2024, reaching $648 million, according to DefiLlama.

Despite the ecosystem's rapid growth, security concerns remain paramount. Earlier in 2024, cybersecurity experts from Kaspersky issued warnings about a major scam targeting TON ecosystem users. The scam involved the use of unofficial Telegram bots to deceive users into linking their Wallet, a third-party cryptocurrency wallet on Telegram, thereby compromising their funds.

In response to these escalating threats, security platforms have intensified efforts to educate users about phishing and scam tactics prevalent in the TON ecosystem. Cointelegraph reached out to the TON Foundation for comment but received no response at the time of publication, highlighting ongoing challenges in addressing these security issues effectively.