Fake Stablecoins on TON Blockchain: A Threat to Its Achievements?

[Cryptsafe]

It is normal that good crypto projects always attract the eyes of scammers. There have been no mega project that did not feel the heat/hit of scammers. They are all around the corner waiting for successful projects to use make their profit but I doubt if they could be able to succeed because the TON network already waxed stronger that they could think of.

The one thing I know is that any project that faces a threat by scammers are really the strongest because I think they would have tightened their security features based on their experience with hackers as not to entertain that occurrences again. So in that case, they go extra miles to get the best sophisticated devices for their IT team to beef up their security and safety.

[yhiaali3]

I would not be surprised at all, after the great success achieved by the TON Blockchain after its recent launch, it is not surprising that scammers begin their activity there, first because of the great demand for the network and secondly because of the cheap fees, which is considered a very tempting attraction factor for scammers, as happened before on the Binance network, which contains the largest As much scam coins as possible.

Fraud protection is not the responsibility of blockchain developers and they cannot do anything to prevent fraud. The responsibility falls primarily on users who must have sufficient knowledge of fraudulent methods and do their own research before investing in any new currency.

[ABCbits]

--snip--

so You think this is not a security thread issue? In my own understanding I view as the most blockchain close to web2 fellas and security is one big thing they are lacking knowledge about which is why I always think TON need extra later

No, i would categorize it as security concern. In addition, TON supposed to be decentralized, so nobody can disable or remove those fake token/stablecoin from the network. So the only thing we can do is keep warning people about fake token/stablecoin and encourage them to learn a bit about digital security knowledge.

[NotATether]

Aren't there scam tokens on almost all blockchains that support tokens though? I don't see how this is newsworthy. Also I don't see how you can actually buy these tokens on your exchange website unless the scammers went out of their way to advertise said token to you and introduce you to the token. Because normal people will not find this themselves.

[MUGNIA]

Maybe this will be the new normal in the cryptocurrency world whether we like it or not it will exist. Developers and investors need to make money and that is what comes up to their mind and for me it is not a scam but a clever way to make money. It is always up to us to choose and invest so it is definitely our own decision to fall for their trap if it is.

It's true that it's up to us as individuals to be aware of whether or not we are aware of these fraudulent coins. If we as wallet owners don't feel like we are following or carrying out transactions, the fake tokens can actually be ignored so that we can avoid fraud or hacking of our wallets.

[Rruchi man]

What do you think about this situation? Can these security issues overshadow the achievements of TON, and what steps should be taken to address them?

Negative situations that are really serious will currently affect the reputation of the network even it started very well, but will not be able to make people stop it's use.

[Nothabeast]

Around June 21st this year, I came across some concerning news about the TON blockchain. Reports indicated that scammers are targeting crypto exchanges with fake stablecoins on the TON network. This is surprising, especially considering TON’s recent achievements, including $20 million in funding and positive community attention.

Despite these advancements, the presence of scammers raises serious questions about security and trust. How are these scammers infiltrating the system, and what measures are in place to prevent such activities? Could these fraudulent activities potentially undermine TON’s progress and create significant challenges for its future development?

What do you think about this situation? Can these security issues overshadow the achievements of TON, and what steps should be taken to address them?

The TON ecosystem could potentially become the next hotspot for big money. So, it's likely that scammers will try to infiltrate the ecosystem. This has happened numerous times with the Solana ecosystem, but it has continues to thrive. If there's anything I'm afraid of it's not having TON in my pf.

There are so many opportunities in the chain, which reminds me of the current tonnect carnival backed by the Bitget wallet. If you know your way around the TON ecosystem, you could make a lot of money.

[akeemqaz]

This type of scam occurs on various crypto networks, not just on TON onlu. Scammers create their own fake stablecoins. Exchanges should be aware of the official TON stablecoin smart contract addresses. When users deposit fake stablecoins, these should not be reflected in their account balances.