A foundation, closely associated with Telegram, called the Open Network (TON), is pursuing ambitious expansion in the United States. A strategic move like this comes amid the expectation that Donald Trump's upcoming administration will be able to offer a more favourable regulatory environment. The TON Foundation is proud to announce a pivotal leadership transition: Manuel "Manny" Stotz, an experienced investor and blockchain advocate, has been selected as President of the organisation.
There is a new chapter in the foundation's journey to accelerate global adoption of the blockchain, emphasising expanded operations in the United States as part of a strategic expansion plan. In a statement released by a spokesperson for the TON Foundation to Cointelegraph on January 14, a spokesperson confirmed to the Cointelegraph that the US will become one of the most important markets for TON under the Trump Administration.
The TON Foundation has recently appointed Manuel Stotz, one of the world's leading digital asset investors, as its new president. The foundation will be able to expand its operations in the U.S. market with Stotz, the founder of Kingsway Capital Partners. Stotz stated that the U.S. would soon become a global crypto centre specialising in innovation. Steve Yun, who will remain a board member, will resign from the presidency, and he will be taking over the CEO role.
In light of the trend that a new president in the US is expected to provide a more favourable environment for cryptocurrency, this shift reflects this expectation. It is expected that his administration will address some of the most important regulatory issues on the day of his inauguration, which is scheduled for January 20, among crypto supporters. Among the concerns is how digital assets are treated by banks, with many in the crypto sector hoping that a change will happen in the rules regarding whether they will be accounted for as liabilities.
In addition to the issue of “de-banking,” which has impacted many crypto firms in the U.S., another issue that may be addressed is the issue of blockchain technology and its prospects. It has been Stotz's honour to serve as a board member of the TON Foundation since it was founded in Switzerland in 2023. With his new role at the TON Foundation, he will replace Steve Yun, who remains on the board. Stotz is a major investor in the digital asset industry and is the founder of Kingsway Capital Partners, an investment management firm.
There have been over 50 projects backed by the firm, among them Animoca Brands, Blockchain.com, CoinDCX, Toncoin, Genesis Digital Assets, and others. In the TON Foundation's opinion, the changing regulatory environment in the United States offers new opportunities for blockchain technology. Notably, several industry participants are optimistic about the incoming administration's pro-crypto stance, which includes plans for creating a national Bitcoin reserve and promoting blockchain-based economic reform.
As President-elect Trump has also indicated his desire to advance the field by appointing influential figures, such as Paul Atkins and David Sacks, to key positions in the sector, it is anticipated that these developments will lead to a surge in blockchain and artificial intelligence innovation. TON Foundation president Stotz believes that these developments may signify a turning point for the industry as a whole, and he believes that the US is an important market for accelerating blockchain adoption worldwide.
A decentralised project called TON is closely related to Telegram's TON blockchain, which was developed by the messenger and then turned into a decentralised project. The Toncoin token allows the network to provide 950 million Telegram users with services such as in-app payments and games, and with Stotz's leadership, TON plans to increase its user base and integrate blockchain-based solutions into everyday applications under Stotz's leadership.
The main objective of the fund is to use Telegram's vast global audience to promote the widespread adoption of blockchain technologies. With the TON Foundation, which is dedicated to supporting the development of the TON blockchain, Telegram's 950 million users will have access to crypto services through Telegram's platform. In 2023, Telegram formalised the foundation in Switzerland, a year after a 2020 settlement with the SEC ended Telegram's earlier fundraising efforts.
It was announced in December 2024 that the foundation would be expanding to Abu Dhabi following the ADGM's distributed ledger technology framework. This move is intended to provide legal backing for decentralised projects throughout the MENA and APAC regions, with a target of reaching 500 million users by 2028. In the crypto industry, the return of Trump to power could be considered a turning point in the market as a result. He has announced that cryptocurrencies will be treated differently in the United States of America than they were in the past, which could result in more blockchain projects coming into the country in the future and increased innovation in decentralised technologies.
Despite this change in leadership at the TON Foundation, the organisation continues to adhere to its mission and values even during this transition and continues to follow through with its objectives. As a board member of the foundation, Steve Yun provides ongoing leadership and direction and Manny Stotz plays a pivotal role in helping to make it a place for growth, collaboration, and innovation in the future. TON anticipates milestones to be achieved in the US over the coming months, which will further enhance the company's reputation as one of the leading blockchain companies in the world.
A newly discovered Android malware, FireScam, is being distributed through phishing websites on GitHub, masquerading as a premium version of the Telegram application. These malicious sites impersonate RuStore, a Russian app marketplace, to deceive users into downloading the infected software.
RuStore, launched by Russian tech giant VK (VKontakte) in May 2022, was developed as an alternative to Apple's App Store and Google Play following Western sanctions that restricted Russian users' access to global platforms. This marketplace hosts apps that comply with Russian regulations and operates under the oversight of the Russian Ministry of Digital Development.
According to security researchers at CYFIRMA, attackers have set up a fraudulent GitHub page mimicking RuStore. This fake website delivers a dropper module named GetAppsRu.apk. Once installed, the dropper requests extensive permissions, allowing it to scan installed applications, access device storage, and install additional software. It then downloads and executes the main malware payload, disguised as Telegram Premium.apk. This secondary payload enables the malware to monitor notifications, read clipboard data, access SMS and call information, and collect other sensitive details.
Once activated, FireScam presents users with a deceptive WebView-based Telegram login page designed to steal credentials. The malware communicates with Firebase Realtime Database, allowing stolen data to be uploaded instantly. It also assigns unique identifiers to compromised devices, enabling hackers to track them.
Stolen data is temporarily stored before being filtered and transferred to another location, ensuring that traces are erased from Firebase. Additionally, FireScam establishes a persistent WebSocket connection with the Firebase command-and-control (C2) server, enabling real-time command execution. This allows attackers to:
Furthermore, the malware can:
While the identity of FireScam’s operators remains unknown, CYFIRMA researchers warn that the malware exhibits advanced evasion techniques and poses a serious threat to users. To minimize the risk of infection, users should:
As attackers continue refining their tactics, staying vigilant against phishing campaigns and suspicious downloads is essential to protecting personal and financial data.
The threat actors tried to bait targets into downloading infected apps that would give them access to victim devices and leak personal data like location history and residential addresses.
The targeted senior officials include academicians, politicians, media professionals, and others
ShinBet said the stolen information would be used by Iran to launch attacks against Israeli nationals “through Israeli cells they have recruited within the country.” The targets were reached out with an “individually tailored cover story for each victim according to their area of work, so the approach doesn’t seem suspicious.”
In one case, the attacker disguised as a Cabinet Secretary lured the target saying he wanted to coordinate with PM Benjamin Netanyahu. Shin Bet has tracked the targets involved in the campaign and informed them about the phishing attempts.
“This is another significant threat in the campaign Iran is waging against Israel, aimed at carrying out assassination attacks. We request heightened awareness, as cyberattacks of this type can be avoided before they happen through awareness, caution, suspicion, and proper preventative behavior online,” said a Shin Bet official.
Shin Bet “will continue to act to identify Iranian activity and thwart it in advance.” It believes the motive behind the attacks was to manage future attacks on Israeli nationals using information given by Israeli cells recruited by Iran. The campaign is a sign of an escalation between Iran and Israel, the end goal being assassination attempts.
The recent discovery of phishing campaigns is part of larger targeted campaigns against Israel. In September 2024, 7 Jewish Israelis were arrested for allegedly spying on IDF and Israeli security figures for Iran.
The Times of Israel reports, “Also in September, a man from the southern city of Ashkelon was arrested on allegations that he was smuggled into Iran twice, received payment to carry out missions on behalf of Tehran, and was recruited to assassinate either Israel’s prime minister, defense minister, or the head of the Shin Bet.”