The rollercoaster ride for Toncoin (TON) holders continues, with the token dipping 4% on reports of an escalating scam campaign targeting its community.
Meanwhile, the Mega Dice Token (DICE) presale is showing no signs of slowing – raking in nearly $500,000 as traders double down on the “GambleFi” craze.
TON Tumbles as Scammers Target Token Holders
Turbulence has hit The Open Network ecosystem after reports surfaced of an elaborate crypto scam plaguing TON holders.
The revelations have quickly taken a toll, with TON’s price tumbling 4% in the last few hours as spooked investors flee the market.
According to cybersecurity firm Kaspersky, the scam has been active since at least November, capitalizing on growing interest in the Telegram-affiliated blockchain.
Fraudsters are peddling a “referral earning program” designed to eventually steal users’ TON tokens from their wallets.
It’s a classic pyramid scheme: victims are lured in by seemingly legitimate channels only to be trapped into purchasing “boosters” that have no value.
As the scam escalates, they’re even instructed to build their own referral networks, hooking in friends, family, and other unsuspecting individuals.
While the total amount scammed is still unclear, Kaspersky confirms that individuals can lose anywhere from $2 to $2,700 per buy-in.
This is a massive put-off for those hoping to get involved in the TON ecosystem.
Toncoin’s Long-Term Prospects Remain Bullish After Tether Integration
Despite the recent scam woes, the overall narrative around Toncoin remains incredibly bullish.
This is evidenced by the token’s stellar performance on longer timeframes – TON is still up 12% over the past two weeks and 145% year-to-date.
These gains have pushed TON into the top 10 crypto assets by market cap.
This is an impressive feat for a project that was rooted in the abandoned Telegram Open Network before being resurrected as a community-driven endeavor.
But what’s the reason for Toncoin’s growth?
Put simply – a stream of high-profile integrations and partnerships.
Most recently, stablecoin giant Tether announced the launch of its USDT and gold-backed XAUT tokens on The Open Network blockchain.
According to Tether’s CEO, this move to expand the accessibility of USDT and XAUT will help increase activity and liquidity across verticals like payments and gaming.
As such, it perfectly aligns with TON’s mission of creating a user-friendly decentralized ecosystem.
So, while the ongoing scam campaigns are unfortunate, they likely represent minor turbulence for Toncoin.
DICE Token Presale Nears $500K Milestone Amid Influencer Hype
While the Toncoin drama unfolds, another crypto project is experiencing some positive momentum – Mega Dice Token.
This casino-themed token has now raised almost $500,000 in just a few weeks through its presale.
The reason for investors’ enthusiasm is the low price of $0.069 during this ongoing fundraising phase.
It’s an attractive entry point that has crypto investors rushing to load their bags.
In addition, DICE has also earned praise from respected voices like YouTuber ClayBro, who recently highlighted Mega Dice Token’s “huge revenue sharing opportunity.”
On ICOBench, a widely-used rating platform for new crypto projects, DICE currently sits at #3 overall based on its use cases and price potential.
This across-the-board validation appears well-deserved.
As mentioned in the project’s whitepaper, Mega Dice Token has perks like daily staking rewards tied to the casino’s performance, exclusive NFT drops for holders, and a 25% referral commission structure.
With a hard cap of just 14.7 million DICE tokens and aggressive marketing campaigns underway on social media, the ongoing presale could be on track to sell out soon.
And given that the development team has revealed plans to list DICE on a DEX once the presale ends, early investors are likely hoping for a price boost once the token hits the open market.
The Mega Dice casino itself also accepts Toncoin alongside a range of other cryptos.
TON compatibility for deposits and withdrawals was announced on Friday April 19, both for its desktop and mobile Telegram platform.
The @megadice X account posted that ‘TON stands out for its reliability: eco-friendly, secure, and lightning-fast transactions.’
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