Custodian and wallet provider Cobo has declared its backing for The Open Network (TON). This partnership signifies the incorporation of Cobo's extensive custody solutions, encompassing custody wallets and multi-party computation wallet technology, into the TON ecosystem. Additionally, Cobo will incorporate the TON network's native token Toncoin (TON), Notcoin (NOT), and stablecoin projects like Tether. The collaboration between Cobo and TON is part of a broader trend of Web3 support for the blockchain behind Telegram's new advertising platform. The objective is to bolster the security and adaptability of managing crypto assets for institutional customers while expanding Cobo's range of services. Although integrating the TON blockchain network into Cobo's services could broaden the token support for the wallet provider, there may be technical obstacles due to the TON ecosystem's multi-chain architecture and sharding technology. Cobo's platform has a track record of regulatory compliance as an institutional client service provider. The approval of Toncoin by the Kazakhstan Financial Services and Regulation Committee (AFSA) underlines the strategic significance of the partnership for Cobo. Following AFSA's endorsement, Toncoin was added to the list of 107 cryptocurrencies authorized by the Kazakhstan government. Despite the success of the TON ecosystem, there has been a surge in phishing attacks aimed at the blockchain network, as highlighted by SlowMist founder Yu Xian. Xian pointed out on June 24 that the Telegram ecosystem is vulnerable to phishing attacks, with deceptive links being circulated through message groups and airdrop events. Users with anonymous numbers are particularly at risk, as their accounts could be compromised by malicious elements. These users, lacking SIM card-linked accounts, face a higher likelihood of falling victim to phishing attempts on the platform. As a consequence, the user base might shrink, potentially impacting the TON price.