TON Scam Projects

TL;DR: TON Scam Projects (TSP) are deceptive initiatives on The Open Network that lure users, investors, or influencers with false promises, then withdraw funds or disappear. Their activities harm participants and erode trust in the broader TON ecosystem.

Overview#

TON Scam Projects (TSP) are initiatives on The Open Network that have failed to fulfill obligations to their audience—users, investors, partners, and key opinion leaders (KOLs). The consequences include financial losses for users and investors, reputational damage for partners and influencers, and a negative impact on the entire TON ecosystem.

Primary objectives of a scam project

Create a positive first impression.
Gain the trust of the audience and influencers.
Execute a fraudulent scheme that deprives participants of invested funds (a “rug pull”).
Effectively cover up all possible traces.

The widespread occurrence of scam projects is largely attributed to the lack of consistent punitive measures for crypto‑related fraud.

Classification of TON Scam Projects#

Scam projects on TON can be grouped by method, timing, and frequency.

By method

Stake scam – fake staking services promising unrealistically high APY.
Presale scam – fundraising for a token or NFT followed by withdrawal of investors’ funds.
Play‑to‑Earn (P2E) scam – games that promise earnings but use Ponzi‑style mechanics.
Hype scam – projects that mimic well‑known TON initiatives to attract newcomers with free bonuses or token drops.

By timing

Slowrug – gradual withdrawal of funds.
Fastrug – one‑step, immediate withdrawal.

By frequency

One‑time scam – the project closes after the initial deception.
Multi‑time scam – the project continues fraudulent activities after the first incident.

Stake Scam#

A stake scam offers token‑investment services on TON with an annual interest rate far above standard staking options (e.g., Tonstakers). After capital accumulation, the project withdraws funds using one of several scripts:

Inflated APY promise – e.g., MTK advertised 264% APY before the exchange rate collapsed.
Fake stake contracts – users connect their wallet and lose all funds.
Platform “hack” cover‑up – a platform claims a hack to justify withdrawing depositors’ funds.

Presale Scam#

Presale scams raise funds for a token or NFT and then divert the money to the creators’ wallets. Common scripts include:

Token launch manipulation – early investors receive a few tokens at launch, then the creators or market makers inflate the price, issue more tokens to presale participants, and later withdraw liquidity (e.g., GATO).
Honeypot token – a token that can be bought on DEXs such as DeDust or STON.fi but cannot be sold, trapping investors’ funds.
Excessive commission – a project raises transaction fees to 99%, siphoning the collected commissions (e.g., Clown TON, later rebranded to Clown Sol).
Vesting deception – a portion of presale tokens is released early, after which the team sells its share, causing the price to plummet (e.g., MTK, Clown TON).

Play‑to‑Earn (P2E) Scam#

P2E scams pose as blockchain games that allow users to earn money. Two main fraudulent scripts are used:

Presale on game assets – funds are raised for a game attribute that never materializes, leading to a Slowrug or immediate Fastrug. Example: TON OIL offered a limited presale for an in‑game oil station, then the value of in‑game items collapsed.
Ponzi scheme – high promised returns are paid to early participants from later investors’ contributions. When the scheme collapses, all remaining funds are withdrawn. Example: FARM WORLD sold game packs, paid early users, then withdrew all funds citing a “hack.”

Hype Scam#

Hype scams imitate popular TON projects to attract newcomers with free bonuses or token drops. Typical tactics:

Honeypot token – a fake token mimics a well‑known project (e.g., a Catizen‑style honeypot). Liquidity is withdrawn after inflating volume.
Drainer contract – a smart contract that empties an investor’s wallet after they sign to receive a free NFT or token drop.
Fake presale – a presale is launched under the name of a reputable TON project or influencer. Example: ANON used the name of Alexander Plotvinov (CEO of NOTCOIN) to promote an NFT collection and presale, then vanished.
Scam NFT – NFTs contain malicious links; clicking them, connecting a wallet, and signing a contract results in total loss of funds. Some Scam NFTs charge an additional commission when sent to a burn address.

Mitigation Tips#

Verify project details on reputable block explorers such as Tonviewer or TON Scan.
Be skeptical of unusually high APY promises or “guaranteed” returns.
Avoid platforms with a history of hacks or security incidents.
Conduct independent research (DYOR) before participating in any presale or staking service.