Blockchain integration on TON improves security for digital assets

Cobo, a provider of digital asset custody and wallet services, has declared its support for The Open Network (TON).
This partnership will enable Cobo to offer a wide range of custody solutions to the TON blockchain, including custodial wallets and multiparty computation wallet technology.
As part of the collaboration, Cobo will incorporate TON’s native Toncoin (TON) token, Notcoin (NOT), and stablecoins such as Tether (USDT).
The integration of Cobo and TON comes amid a surge in Web3 backing for the blockchain, which underpins Telegram’s new advertising platform.
The goal of the integration is to enhance the security and flexibility of digital asset management for institutional clients and expand Cobo’s service offerings.
While the addition of the TON blockchain to Cobo’s services can broaden token support for the wallet provider, TON’s multichain architecture and sharding technology may pose several technical challenges.
Cobo’s platform has a track record of regulatory compliance as a provider of services to institutional clients.
Given that Toncoin was recently approved by the Kazakhstan Financial Services and Regulatory Committee (AFSA), the partnership holds strategic significance for Cobo.
Following the AFSA approval, Toncoin was added to a list of 107 cryptocurrencies approved by the government of Kazakhstan.
Despite the success of the TON ecosystem, there has been an increase in phishing attacks on the blockchain, as noted by SlowMist founder Yu Xian.
Xian argued that the Telegram ecosystem was “too free,” with phishing links being disseminated through the platform’s message groups, airdrops, and other deceptive methods.
Although the Telegram messenger typically requires phone numbers to be linked to an account, Xian pointed out that users with anonymous numbers faced higher phishing risks.
These users do not have accounts tied to SIM cards, and therefore, their accounts can be compromised if they fall victim to phishing attacks by bad actors on the platform.