TON Ecosystem Hacked: In recent times, there has been a significant increase in the number of vulnerabilities that impact the Open Network (TON) blockchain, which has become a topic of discussion in the cryptocurrency community. The blockchain security company SlowMist highlighted the growing number of phishing attempts that are occurring throughout.
The TON blockchain was published in a post on X today, June 24. Consequently, this has resulted in significant investor concerns regarding the L1 network’s potential to provide user security, which is a component that is desperately required in the cryptocurrency industry today.
SlowMist Highlights ‘The Open Network’ Security Breach
According to the founder of SlowMist, who goes by the name “evils” on X, the TON Ecosystem Hacked is being subjected to a continuous onslaught of phishing efforts. The founder goes on to say that “the Telegram ecosystem is too free” and that “many phishing links (or bot forms) are spread. Through message groups, airdrops, and other deceptive methods to lure away users’ TON wallets.” These assaults put users’ cash and non-fungible tokens (NFTs) at risk while taking advantage of their Anonymous Telegram Numbers.
These are the numbers that are used to create Telegram accounts. When this information is stolen, the user’s linked Telegram account is likewise at risk of being compromised. The implementation of a two-step verification system, on the other hand, could prevent this from occurring. Despite this, there is a growing risk of a potential decline in user attractiveness due to the increasing number of security breaches that occur on the network. It is also possible that this will be a challenge for TON, which is the native coin of the TON network.
It is worth noting that the TON network has recently garnered considerable attention. Because it incorporated USDT; however, it is currently experiencing a blow to its reputation. The L1 has suffered a significant setback as a result of the recent increase in user threats across the country. The ecosystem has raised concerns regarding the network’s stability and security.
TON Price Plunges
During this time, the price of a TON Ecosystem Hacked demonstrated a decrease in value of 4.71%, resulting in a current trading price of $7.23. Over twenty-four hours, the token’s lows and highs were $7.20 and $7.72, respectively. Notably, the downward momentum coincides with the movement of the market as a whole, which is an intriguing finding. However, if the network does nothing to protect itself from these attacks, additional drops may occur.
The price of MakerDAO (MKR) dropped by more than five per cent earlier today as a result of phishing. The attack targeted an address associated with the MakerDAO governance delegate for roughly nine million MKR. With regard to this, the potential for bearish outcomes in the event. If concerns about user security within an ecosystem are not addressed, it poses a risk to the price of TONNE.
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