A wallet drainer operating on The Open Network (TON) recently announced its closure and directed users to a different crypto-draining service.
On October 7, Scam Sniffer, a Web3 anti-scam solution, shared a screenshot revealing that the TON-based wallet drainer would cease operations. In its message, the wallet drainer lamented the lack of crypto whales within the TON community, stating this scarcity was detrimental to its business. The hackers explained:
“Due to TON not having whales and it being a small community, we will close.”
Instead of abandoning its users, the drainer redirected them to focus on draining Bitcoin (BTC). In their announcement, the hackers claimed that if users enjoyed draining on TON, they would also “love” the experience of draining BTC.
The drainer emphasized that its TON-based service would not return, effectively shifting its focus to a more lucrative target.
The Rise of TON Drainers
Interest in TON by wallet drainers has been on the rise since June. In a previous interview with Cointelegraph, Raz Niv, co-founder of Blockaid, noted the increasing allure of the TON ecosystem for drainers, stating:
“We’re seeing a lot of drainers become more and more interested in the TON ecosystem [because] there is so much value streamed through TON.”
This growing interest in TON’s potential profitability has attracted various malicious actors, making it a target for scams.
One notable tactic employed by a TON drainer involved luring users with a fraudulent 5,000 USDT transaction. This scam utilized TON’s comment feature, allowing transfers to include custom messages, which obscured the true purpose of the signatures.
Transfer messages typically read “Receive 5,000 USDT” with a “Confirm” button. When users signed the transaction, the drainer initiated the process of siphoning funds from their wallets.
In May, Scam Sniffer reported that this tactic had already been employed to drain 22,000 Toncoin tokens, valued at over $150,000 at that time.
September Phishing Attack Statistics
Recent data from Scam Sniffer highlighted a troubling trend: approximately 10,800 victims fell prey to phishing attacks in September alone, resulting in a staggering $46.6 million loss in digital assets. A significant portion of these losses stemmed from a single phishing transaction that drained over $32 million in crypto.
Phishing attacks typically involve tricking crypto holders into linking their wallets to fraudulent services like drainers. This enables malicious actors to withdraw victims’ funds without requiring further authentication, making it a highly effective method for theft.
The shutdown of the TON-based wallet drainer and its pivot to Bitcoin underscores the ongoing challenges within the cryptocurrency landscape. As malicious actors continually seek out new targets and methods for exploitation, users must remain vigilant against phishing scams and fraudulent services. The evolving nature of these threats emphasizes the need for enhanced security measures and awareness within the crypto community.
| Details of the TON Wallet Drainer Incident | Information |
|---|---|
| Date of Shutdown Announcement | October 7 |
| Reason for Closure | Lack of crypto whales in the TON community |
| Target Shift | Redirected users to drain Bitcoin (BTC) |
| Phishing Incident in May | 22,000 Toncoin tokens drained, worth over $150,000 |
| Phishing Attack Statistics for September | 10,800 victims, $46.6 million lost |
| Largest Single Phishing Transaction | Over $32 million drained |
