Blockchain security analysts are urging crypto exchanges to scrutinize deposits closely as scammers flood them with fake tokens on the TON network. Malicious actors are exploiting fake USDT transactions on the Open Network (TON) amidst Tether’s expansion on the network.
Data from blockchain security group Dilation Effect shows that scammers are targeting exchanges like Binance, Bybit, MEXC, and Gate.io with fraudulent tokens. A hacker deployed a fake USDT smart contract on TON, mimicking the official contract’s metadata.
Although this type of attack isn’t common, analysts had warned about it in 2023. Blockchain firm SlowMist noted that TON’s internal smart contract messages are usually “bounceable,” meaning unverified transactions can return to the sender, misleading exchanges.
Nearly all blockchains face false deposit issues, and TON is no exception. This incident underscores the need for robust security measures in the evolving crypto landscape.
