Fraudsters are promoting a financial pyramid scheme in Telegram based on investments in the cryptocurrency Toncoin (TON). This was reported by experts from Kaspersky Lab.
Participants are encouraged to purchase one of the “booster” plans and invite friends to the project via a referral link, promising passive returns in TON.
The victim is required to purchase between 5.5 TON and 501 TON on the legitimate market and deposit it to an address created through an unofficial bot. This allows fraudsters to gain access to the assets.
During registration, the scheme’s organizers advise against using official wallets for storage, allegedly “to avoid losing access to funds.”
Pyramid participants are compelled to distribute presentations of this earning method in groups and personally tell acquaintances “about the service’s advantages.” To initiate payouts, at least five referrals must be invited, with 25 TON promised for each and commissions depending on the “booster” they purchase.
Kaspersky Lab did not disclose the number of victims of the scam but noted that the abundance of promotional videos may indicate a “significant number of victims.”
Toncoin’s popularity has been rising following several announcements, including the release of USDT on the TON network and cryptocurrency payments to content creators in Telegram. However, this has not positively impacted the token’s price.
Previously, ForkLog reported on schemes to hijack Telegram accounts through image sites and open Wi-Fi networks.