Telcoin Token Price Crashes 40% Due to Polygon Wallet Error!

The post Telcoin Token Price Crashes 40% Due to Polygon Wallet Error! appeared first on Coinpedia Fintech News

Telcoin’s TEL token plummeted by 40% in the past 24 hours due to an apparent error related to the implementation of a Polygon wallet. The incident, initially flagged as an exploit by blockchain security company Peckshield, caused user balances to drop on Telcoin’s mobile application. Telcoin froze its app in early Asian hours on Tuesday and later revealed that the issue was related to how the app interacted with the Polygon blockchain, primarily impacting wallets that had not initiated transactions. The company stated that it had identified the root cause, deployed a fix to stop further exploitation, and planned to restore all wallets.