Blockchain payment application Telcoin released an update on the theft incident. Telcoin said that we have determined the root cause of the theft. This is not a problem with the Telcoin wallet code itself, but an issue with the proxy implementation of the wallet on Polygon. The main impact has never been started. Transaction wallet. We have deployed a fix to prevent further exploitation. We plan to restore all wallets to their previous balances (for all affected assets) before reopening the application service, which may take some time. No keys, backend systems or user data were compromised. We will provide updates as soon as possible and thank you all for your patience and support. The Telcoin team is very grateful for the help provided by the blockchain security community and we will publicly express our gratitude to them once we have completed our investigation. Golden Finance previously reported that a large number of suspicious token operations occurred on the blockchain payment application Telcoin on Polygon. The suspicious address was suspected of stealing more than 300 million TEL tokens and converting them into MATIC. At present, the official stated that it is aware of the situation of the Telcoin application and has temporarily frozen the use of the application while the problem is investigated.