According to Cointelegraph: Telegram's recent integration of the TON blockchain and its native Toncoin token has drawn the attention of unsavory individuals, using this development as a launchpad for scams aimed at unsuspecting tokenholders.
Cybersecurity powerhouse Kaspersky shared details with Cointelegraph about a cryptocurrency scam designed to splash out Toncoins (TON) from Telegram users globally. Expert analysis from Kaspersky establishes that this scam was operational from at least November 2023, riding on the wave of increased interest and investments in TON.
The scammers have masterminded an intricate referral scheme geared towards stealing TON tokens. Prospective victims get lured by links from known contacts, coaxing them to partake in an "exclusive earning program." The sinister operation then drives victims to join an unofficial Telegram bot, allegedly to facilitate cryptocurrency storage and to tether their Web3 wallet to the bot system.
Adding a veneer of validity and an illusion of safety, scammers instruct users to buy Toncoins through official channels like Telegram's official bot, P2P markets, or recognized cryptocurrency exchanges.
Once trapped, victims are manipulated into buying "boosters" using a distinct bot. The scammers argue that the purchase of these boosters triggers the promised earnings. This step marks a fatal turning point; buying a booster severs their control over their invested cryptocurrency.
Kaspersky sheds light on the mechanics involved: “The costs of 'boosters,' coined by the scammers as 'bike,' 'car,' 'train,' 'plane,' or 'rocket,' vary from 5 to 500 Toncoins." As a result, victim losses can range from a bitter $2 to a significant $2,700 through this targeted pyramid scheme.
Also pressing victims to promote fake boosters through a referral program, the scheme demands them to create private Telegram groups roping in friends and contacts.
Kaspersky concludes, "It turns out to be a classic pyramid scheme... Sadly, nobody profits except the scammers, and all 'partners' lose their investments."