Telcoin Restores User Balances After $1.2M Exploit

Telcoin has announced that it has restored all user balances following an exploit that resulted in $1.2 million worth of funds being transferred out of some users' accounts. Telcoin's founder and CEO, Paul Neuner, stated that the decision to restore affected user wallets from the company treasury was an easy one to make. The exploit occurred due to a fault in the interaction between Telcoin’s digital wallet and a proxy contract, but no admin keys were leaked, meaning the broader Telcoin ecosystem remained unaffected. Following the restoration of services, deposits increased by over 400% compared to the previous month.