TON Wallet Drainer Shuts Down and Switches Focus to Bitcoin

The Closure of The Open Network (TON) Wallet Drainer

According to Cointelegraph, a wallet drainer targeting The Open Network (TON) has announced its abrupt closure, redirecting users to another crypto-draining service. This announcement was shared on October 7 by Scam Sniffer, a Web3 anti-scam solution, along with a screenshot of the message.

Reasons Behind the Shutdown

The wallet drainer cited a lack of crypto whales—large holders of cryptocurrencies—within the TON community as the primary reason for its discontinuation of services. The message from the hacker stated, "Due to TON not having whales and it being a small community, we will close." Furthermore, the scammers have encouraged users to shift their focus to Bitcoin (BTC), claiming that those who enjoy draining on TON would also find BTC-draining beneficial.

Promotion of Alternative Services

In addition to shutting down, the wallet drainer promoted another service, indicating that the TON-based drainer would not be operational again. This marks a concerning trend as interest in connection with TON-based draining has surged since June.

Increasing Interest in TON Ecosystem and Draining Activities

In a prior discussion with Cointelegraph, Blockaid co-founder Raz Niv mentioned the rising interest among scammers in the TON ecosystem owing to the significant value streamed through it. One alarming method utilized by these drainers involves using fraudulent transactions as bait.

How Scammers Deceive Users

A notorious instance involved a drainer using a fraudulent transaction claim of 5,000 USDt (USDT) to lure users into signing. This scam leveraged TON’s comment functionality, allowing transfers to include misleading messages and thus masking the actual intent behind the transaction signatures. Standard messages displayed prompts such as "Receive 5,000 USDT" with a "+ Confirm" option. Once users signed it, they unwittingly initiated the token drain.

Consequences of Fraudulent Activities

In May, this duplicitous tactic had already drained a significant sum of 22,000 Toncoin (TON), equivalent to over $150,000 at that time. This highlights the alarming increase in wizardry employed by scammers in the cryptocurrency space.

Phishing Scams Statistics

In related news, Scam Sniffer recently reported that phishing scams drained approximately $46.6 million in digital assets in September alone, impacting around 10,800 victims. The majority of these losses stemmed from a single phishing event that extracted over $32 million in cryptocurrencies.

The Mechanism of Phishing Attacks

Typically, phishing schemes trick crypto holders into linking their wallets to fraudulent services, such as drainers. This process allows malicious entities to withdraw funds without needing further authentication, showcasing the necessity for violators to elevate their protection against these heinous practices.

Final Thoughts

As the cryptocurrency landscape evolves, so do the tactics employed by malicious actors. The closure of the TON wallet drainer illustrates a shift in the ecosystem while highlighting an urgent need for increased vigilance and enhanced security measures among users. By educating themselves and remaining cautious of unsolicited communications, crypto holders can better protect their digital assets.