Telcoin Updates Users on Service Suspension; No Mention of $1.3M Hack

• Telcoin shared an update on the service suspension on its platform. 
• The team confirmed it has successfully fixed the issues, and services will resume soon. 
• The update failed to mention the $1.3 million hack raised by PeckShield.

Days after suspending activities on its platform, the decentralized finance (DeFi) platform Telcoin broke its silence today as it issued an update to its customers on the recent security incident.In a post shared on X (formerly Twitter), the Telcoin team announced having made headway with the issues, stating,

We have internally confirmed our assessment of the situation and that our fix was successful.

Furthermore, the team confirms plans to resume operations on its platform once wallets are returned to their original balances. In addition, Telcoin promised a more detailed explanation of the incident once services were restored. 

The update, which is the first since December 26, once again failed to mention the alleged breach on its platform. In the December 26 update, Telcoin blamed the suspension on a technical breach resulting from issues with the proxy implementation of wallets on Polygon. 

Furthermore, the recent upda…

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