Telcoin's Polygon wallet proxy contracts were uninitialized, allowing an attacker to initialize dormant wallets with malicious versions and drain user funds that had never executed transactions.

Recently, Telcoin Wallet was subjected to a targeted attack, and Telcoin tweeted that it is aware of the situation with the Telcoin app. Use of the app has been temporarily frozen while the issue is investigated and an update will be provided as soon as possible.