The founder of SlowMist has warned that the Telegram messenger ecosystem is “too free” for exploiters of the TON ecosystem.

The Open Network (TON) ecosystem, linked to Telegram, is facing a rising number of phishing attacks, according to blockchain security expert Yu Xian, the founder of SlowMist. The TON ecosystem, which includes various decentralized applications (DApps) and tokens on the TON blockchain, has become a target for phishing attackers amid its growth in 2024.

Xian highlighted that phishing vulnerabilities in the TON ecosystem are linked to the easy access scammers have to message groups, where they post phishing links. Users with anonymous numbers, which are used to create Telegram accounts not tied to SIM cards, are at higher risk.

The TON ecosystem has seen significant growth in 2024, with its total value locked (TVL) surging 4,500% since the beginning of the year. This growth has been driven by projects like TON's native cryptocurrency, Toncoin (TON), and the play-to-earn token Notcoin (NOT). However, this growth has also attracted phishing attacks.

Security platforms have been warning users about these phishing and scam attacks. In April, cybersecurity firm Kaspersky warned against a scam involving TON ecosystem users, which utilized unofficial Telegram bots to steal users' coins.

Despite these challenges, the TON ecosystem continues to expand, with 43 tokens and a total market capitalization of $19.2 billion at the time of writing. However, the rise in phishing attacks underscores the importance of users remaining vigilant and taking steps to protect their assets when participating in the TON ecosystem.