According to recent findings from Web3 Anti-Scam organization Scam Sniffer earlier today, Telegram has witnessed an unprecedented surge in cryptocurrency-related scams, with a staggering 2000% increase between November 2024 and January 2025.
The dramatic rise has surpassed traditional phishing attacks in volume, marking a significant shift in cyber-criminal tactics.
The platform’s popularity within the cryptocurrency community has made it an increasingly attractive target for fraudulent activities, with scammers developing increasingly sophisticated methods to target users.
The trend has become particularly concerning as it coincides with Telegram’s growing influence in the cryptocurrency space, where the platform has reported significant financial growth and increased crypto holdings.
Advanced Attack Methodologies and Techniques
The current wave of scams employs two primary sophisticated attack vectors: Trojan malware deployment and social engineering-based account compromises.
Scammers have diversified their distribution channels, utilizing fake verification bots, fraudulent trading groups, counterfeit airdrop opportunities, and exclusive “alpha” groups.
A particularly sophisticated method, known as the “Telegram Safeguard” scam, implements a multi-step verification process that surreptitiously implants malicious code into users’ clipboards, potentially deploying harmful Powershell instructions.
These attacks have evolved beyond simple cryptocurrency theft, incorporating capabilities to access stored passwords, scan for wallet files, monitor clipboard activities, and steal browser data, making them significantly more dangerous than traditional “connect wallet” scams.
Security Recommendations and Platform Response
To combat these sophisticated threats, security experts emphasize the critical importance of implementing robust security measures.
Users are strongly advised to never execute unknown commands, avoid unverified software installations, reject clipboard-based verification processes, and maintain skepticism toward urgent group invites.
The use of hardware wallets is strongly recommended as an additional security layer.
ScamSniffer has recently issued specific warnings about scammers impersonating popular crypto influencers on platforms like X, highlighting the need for increased vigilance across multiple platforms.
Despite these challenges, Telegram’s strong financial position and growing crypto holdings suggest the platform has the resources to potentially enhance security measures and protect users from these evolving threats.
Also Read: Telegram backed $TON Unveils Ambitious Stablecoin Vision, Aims $10B in Market Cap
Platform Growth Amid Security Challenges
Despite these security challenges, Telegram has reported remarkable financial growth, with revenue exceeding $1 billion and maintaining a $500 million cash reserve.
The platform’s Bitcoin holdings have significantly increased to $1.3 billion in 2024, up from $400 million in 2023, demonstrating strong financial performance even amid security concerns.
The financial stability has helped maintain platform operations even during recent challenges, including the temporary detention of CEO Pavel Durov by French authorities.
The platform’s native token, TON coin, has shown resilience with a 165% increase over the past 12 months, indicating sustained market confidence despite security challenges.