🔥🔥🔥 #Telcoin Loses $1.3 Million in Security Breach, TEL Price Plummets Over 50% 🔥🔥🔥

The Telcoin app recently experienced targeted attacks resulting in the depletion of several wallets, leading to a rapid 65% drop in the Telcoin ($TEL) price for a brief period and an estimated loss of about $1.3 million.

The identified address linked to these #Security breaches is 0x35d2775e5f95596509951b140d68fc5b9185ff98, as disclosed by PolygonScan.

In response, the Telcoin team is actively investigating the incident and taking necessary measures to minimize the damage caused by the exploit. As a precautionary step, Telcoin has temporarily halted the use of its application to conduct a thorough investigation into the security breach. The team has assured users that they are aware of the situation and committed to providing an update promptly to address the issue and restore normal operations.

The market response to the exploit has been swift, with the TEL coin's price plummeting by over 65%, trading at $0.00081742. However, as of the current writing, the TEL price has significantly recovered, now trading at $0.001457, reflecting a 34% decrease in the last 24 hours, according to Coingecko.

Telcoin is currently regulated as a Major Payment Institution in Singapore by the Monetary Authority of Singapore. The company is also registered and regulated in various global markets, including Canada and Australia, with primary offices located in Singapore, Tokyo, Dubai, and Los Angeles.

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