TVL Toncoin Soars, Phishing Attacks Rise

TVL Toncoin soared, phishing attacks increased (Photo; Doc. Thewealthmastery)

JAKARTA - The Open Network (TON) ecosystem faces serious challenges with increasing phishing attacks. The surge in network activity and the increase in the price of the original TON token were targeted by fraudsters. Fraud methods such as fake airdrops and other tactics are used to break into users' TON wallets, including valuable assets such as NFT.

Telegram users who use anonymous numbers are more vulnerable to this phishing attack. The anonymous number feature introduced at the end of 2022 allows the creation of an account without a SIM card, but also increases the security risk. If these accounts are phishing, the related Telegram account can be lost, unless the user has activated a separate password or two-step verification.

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ToN Ecosystem Spectacle Growth In 2024

According to Crypto Potato information, The Open Network (TON) experienced tremendous growth. Layer 1's decentralized blockchain daily transfer volume reached 10% of the Bitcoin figure. In this context, Bitcoin's daily transfer reached 50 billion US Dollars (around Rp. 818 trillion), while the daily volume of TON transfer ranged from 5 billion US Dollars (around Rp. 81 trillion) to 10 billion US Dollars (around Rp. 163 trillion) last week.

Several factors support this growth, including an advertising system on Telegram that shares direct channel revenues with its owners in TON crypto assets. The launch of The Open League program also provides long-term incentives for stakeholders in the TON community.

The latest data from DeFiLlama shows a spike in TONS, with total locked value (TVL) reaching nearly 650 million US Dollars (approximately IDR 10 trillion). This marks an increase of more than 4,540% since early 2024, when the TVL figure was around 14 million US Dollars (approximately IDR 229 billion).