Hackers are currently targeting the USDT on TON blockchain recharge system in an attempt to defraud crypto exchanges with fake deposits. This activity was detected by the Dilation Effect on-chain monitoring system, which discovered a malicious TON address.
This entity uses a fake USDT token contract that mimics the official USDT metadata to perform fraudulent recharge tests on various exchanges.
Exchanges are advised to implement strict monitoring and verification processes for large deposits of TON chain tokens. Reports indicate that hackers are testing the system with small amounts before attempting larger transactions. This pattern suggests that they are identifying and exploiting weaknesses in exchange deposit protocols.
Interestingly, the scam activity has emerged amid Binance, the world's cryptocurrency exchange, recently integrating the USDT on TON for deposits and withdrawals. The timing of this scam also raises concerns about the security of TON transactions, especially since many exchanges have only recently started supporting USDT deposits on this blockchain.
The issuance of USDT on TON was announced back in April this year. Since then, USDT's presence there has grown significantly, reaching almost $600 million. This growth positions TON as the sixth largest blockchain by USDT volume, with TRON, Ethereum and Solana maintaining the top three.
Given this situation, exchanges and users are advised to stay vigilant and monitor any unusual activity.
Dan Burgin
Vladislav Sopov
