Telegram applications based on the blockchain $TON The Open Network) are multiplying, promising quick gains and rewards in cryptocurrencies. However, behind these promises often lie disappointing practices. Most of these applications impose minimum requirements for transactions, often in the order of 0.02 TON, to be eligible for earnings. In reality, the rewards obtained are much lower than the amounts invested, making the system of little benefit to the user. Ultimately, these small transactions accumulate and end up costing more than what one could hope to earn, giving the impression of a system of micro-transactions where the user is systematically a loser.
Risks associated with fraudulent wallet connections and Smart Contracts
Another major issue with these applications is the requirement to connect your personal crypto wallet. This requirement, combined with the signing of dubious smart contracts, exposes users to real security risks. Indeed, these smart contracts are often designed to siphon funds from the connected wallet. Once the wallet is linked to the application, users can find themselves victims of sophisticated scams where their cryptocurrencies are transferred without their explicit consent. This type of practice calls into question the security of TON-based applications and highlights the need to protect your funds by avoiding wallet connections with unverified services.
An ecosystem of interconnected applications that traps users
These apps often refer to each other, creating a closed ecosystem where the user is constantly incentivized to use new platforms. At each step, one must accumulate “points” or “rewards” that are never actually convertible into monetary value, while paying gas fees for TON transactions. The process thus pushes users to multiply registrations on different apps and to make repeated transactions, increasing costs without any real return on investment. This mechanism of inconvertible “points” is just a way to keep users in an endless loop, which mainly benefits the creators of these apps.
The role of influencers and Binance’s responsibility
It is surprising to see that established platforms like Binance continue to promote these types of applications through paid influencers to recruit new users. These influencers are often incentivized to extol the merits of these dubious services without highlighting the associated risks. In addition, the recurring requirement for Telegram Premium subscriptions, mandatory TON transactions, and unclear conditions on airdrops should raise concerns about the legitimacy of these offers. It is high time for Binance to review its promotion policies and take steps to ban the distribution of these TON-based applications, in order to protect users from what is increasingly looking like a gigantic scam.
