Telcoin Acts Fast to Secure Platform Post-Multi-Million Hack

Telcoin, a mobile-focused financial application developer, experienced a substantial exploit on its platform. This incident, involving the company’s wallet implementation on the Polygon blockchain, led to an alarming 40% drop in the price of the Telcoin (TEL) token. The exploit resulted in the unauthorized withdrawal of over $1.2 million from user accounts, as confirmed by blockchain security firm Peckshield and discussions on Telcoin’s Discord community forum.