The number of Toncoin (TON) ecosystem-focused scams on the messaging app Telegram is on the rise, as reported by blockchain journalist Colin Wu. According to Wu, the blockchain security firm SlowMist has identified numerous phishing attacks taking place within the ecosystem of the layer-1 blockchain, all facilitated through Telegram.

Wu explains, “Many phishing links (or bots) are being circulated through groups, using fake airdrops and other methods to compromise assets in users’ TON wallets, especially those with Anonymous Telegram Numbers. Many people use these numbers to create Telegram accounts, and if they are stolen, it means that the corresponding Telegram account may also be compromised unless a separate password is enabled.”

In addition to the phishing scams, cybersecurity firm Kaspersky has also brought attention to a Toncoin-focused pyramid scheme being run on Telegram. The scheme involves scammers promoting a ‘super-secret awesome bot’ and referral links as the means to earn Toncoin. Essentially, individuals are encouraged to invest money, purchase ‘booster’ tariffs, invite friends, and earn commission from every coin invested. This pyramid scheme targets both Russians and users from other countries, and has been active since at least November 2023.

The scammers promise earnings from two sources: a fixed payment of 25 TON for each invited friend and commission based on the booster tariff purchased by referrals. However, Kaspersky’s report reveals that the scheme is nothing more than a classic pyramid scheme, with only the scammers profiting and all participants losing their investments.

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