TON blockchain has been the crypto success story of 2024. Toncoin’s price has increased more than five times over the past year and surged into the top 10 cryptocurrencies by market capitalization.
“We’re seeing a lot of drainers become more and more interested in the TON ecosystem there is so much value streamed through TON,” Raz Niv, co-founder of Blockaid, an Israel-based security company, tells Magazine. Drainers are scam tools developers sell to help illicit actors steal cryptocurrencies. Scammers often hook investors via phishing links that set them up to get their assets stolen.
“He is also draining but with a private drainer which claims to have a full Blockaid bypass,” they say. According to Token Terminal, the network had a record 5.7 million monthly users as of June 14, up from just 228,000 at the beginning of the year. “Because of this cat-and-mouse game, everything that we show publicly is immediately being used by the drainers to try and circumvent us,” Niv says.Notcoin, a viral Telegram game that rewarded users for tapping their screens, reportedly gained 35 million users. Its spiritual successor, Hamster Kombat, claims to have a player base of more than 150 million cumulative users.
“We started from Ethereum — blocked them there. They moved to Solana — blocked them there. Now, they’re moving to TON. After this, they will be at the next chain,” Niv says.Ethereum-based assets, particularly ERC-20 tokens, are the most drained assets in the world, but even they have their limitations, according to Cos, founder of security firm SlowMist.
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