TEL Price Slumps as Telcoin Suffers Apparent Exploit Related to Polygon Wallet Implementation

Coinbase
Tyler Spalding, CEO / Co-Founder, Flexa, 2Chainz and Zack Seward, Deputy Editor-in-Chief, CoinDesk
Changelly



“We’ve identified the root cause, which was not an issue with the Telcoin Wallet code itself, but with the proxy implementation of the wallet on Polygon – primarily impacting wallets that have never initiated transactions,” Telcoin posted on X . “We have deployed a fix to stop further exploitation.”



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