ChainCatcher news, Telcoin officials announced on social media that the Telcoin App has added support for WBTC-related services, allowing users to store, send, and trade WBTC on Polygon.

ChainCatcher news, according to CoinDesk, Telcoin announced today that a few weeks after suffering an attack and losing $1.2 million in funds, it has compensated users for their losses in the security incident, and all user fund balances have been restored to normal.

ChainCatcher message, the blockchain payment application Telcoin has once again released a security incident update stating that it has completed the preparation and internal testing for the recovery process, and has initiated an external audit for the new agent deployment. The external company will take a few days to complete the audit. After the audit is completed, Telcoin will execute the recovery process and then restore the Telcoin App services.

ChainCatcher message, Telcoin has released a security incident update on platform X: "The root cause has been identified; it is not an issue with the Telcoin wallet code itself, but rather a problem with the proxy implementation of the wallet on Polygon, primarily affecting wallets that have never initiated a transaction. A fix has been deployed to prevent further exploitation. We plan to restore all wallets to their previous balances (for all affected assets) before restarting the application services, which may take some time. No keys, backend systems, or user data have been compromised."Previously reported, the Telcoin wallet was attacked with an estimated loss of $1.2 million.

ChainCatcher message, the blockchain payment application Telcoin has experienced a large number of suspicious token operations on Polygon, with a suspicious address allegedly stealing over 300 million TEL tokens and exchanging them for MATIC.Suspicious address: 0xDB4B84F0E601e40a02B54497F26E03EF33f3A5b7Currently, the officials have stated that they are aware of the situation with the Telcoin application and have temporarily frozen the use of the application during the investigation.