Telcoin Suffers Apparent $1.2M Exploit Related to Wallet Implementation on Polygon; TEL Drops 40%

Telcoin, which develops financial applications, such as trading and remittance tools, based on the Polygon blockchain for mobile-device users, froze its application in early Asian hours on Tuesday, developers said in an X post. In a follow-up post, they said the issue was related to how the application interacted with the Polygon blockchain and that no private keys or sensitive data were leaked.