The post Crypto Scammers Exit TON Blockchain: Whale Shortage Hits Hard appeared on BitcoinEthereumNews.com.

Crypto scammers, known for using wallet drainers, are abandoning TON blockchain in search of new opportunities, as the network is no longer conducive to their schemes. Wallet drainers are malicious tools that enable exploiters to steal cryptocurrency. Scammers typically lure investors into these traps through phishing links, tricking them into giving up access to their assets. Crypto Scammers Scamp TON Blockchain Over Whale Shortage Scam Sniffer, which helps users and developers avoid phishing sites and wallet drainers, highlighted a TON wallet drainer shutting down its services. The exit notice, communicated on Reddit, cited a shortage of whales on TON as the reason for winding down services. As the TON wallet drainer exits the TON ecosystem, it targets the Bitcoin blockchain, which is expected to offer a more significant avenue for looting. Read more: What Are Telegram Mini Apps? A Guide for Crypto Beginners TON Wallet Drainer to Shut Down. Source: Scam Sniffer In hindsight, wallet drainers’ interest in the TON blockchain came amid increased value on the network. At the height of the frenzy, clicker or tap-to-earn games with airdrops helped drive the value surge. Among them were Notcoin and Hamster Kombat, which steered daily active addresses. Then, bad actors would leverage TON’s comment feature to bait their prospective victims. Clicking the button would execute the transaction. Specifically, transfers would contain a custom message for the recipient at the signing stage in their wallets. Scam Sniffer reported how this tactic caused losses reaching 22,000 TON (or $152,000 at the time) in May. “As TON gains popularity, phishing scams are on the rise. Scam Sniffer has detected a surge in TON-related phishing sites past month. Don’t just trust; verify! Using our extension or API? We’re actively guarding you against these threats,” Scam Sniffer warned. Interest in TON grew as Ethereum phishing became more…

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Filed under: News - @ October 8, 2024 6:23 am