Blockchain security platform Scam Sniffer has reported the shutdown of a wallet drainer operating on The Open Network (TON) blockchain, citing the absence of large-scale participants, also known as “whales.”

In an Oct. 7 screenshot shared by Scam Sniffer, the wallet drainer revealed it was ending its operations because TON “does not have whales and remains a small community.”

SlowMist founder Yu Xian reacted to the news, suggesting the drainer’s assessment might be flawed or overly simplistic. He remarked:

“Too realistic. Or maybe this gang isn’t smart enough.”

Xian’s remark hints that the drainer team may have misunderstood or underestimated the potential of the TON blockchain.

TON phishing

The TON blockchain has been one of 2024’s major success stories. The network’s native token value has surged by more than 100% on the year-to-date metrics, pushing it into the top 10 digital assets by market capitalization.

The network’s success can be attributed to the popularity of games like Hamster Kombat, which have boosted the platform’s usage.

In addition, the network’s integration with the social messaging application Telegram, which has more than 900 million users, further positions TON as a potential driver of mass crypto adoption.

However, earlier this year, reports revealed that TON had become a growing target for phishing attacks.

Interestingly, security firm BlockAid pointed out that attackers have employed multi-chain drainer kits previously used on Ethereum and Solana. Over 300 malicious decentralized apps (dApps) were launched on TON in September alone, highlighting the escalating threats.

Target Bitcoin users

Meanwhile, the unnamed wallet drainer urged users to shift their attention to

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Author: Oluwapelumi Adejumo