The Telcoin (TEL) token price fell 40% in the past 24 hours after an apparent error relating to a Polygon wallet implementation caused user balances to drop on the Telcoin mobile application. The slide was flagged as an exploit by blockchain security company Peckshield. The exploiter managed to make over $1.2 million in funds drained from affected accounts, according to messages on Telcoin's community on the Discord online forum. 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.
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