What happened
Telcoin App, a Polygon-based mobile wallet, was exploited due to a smart contract vulnerability, resulting in the loss of 1,272,782 USD worth of MATIC and ETH.
Telcoin App is a mobile wallet operating on the Polygon chain. On December 23, 2023, the app's proxy smart contract was exploited by an attacker who took advantage of an uninitialized smart contract. This allowed the attacker to gain a large number of TEL tokens.
The stolen funds were then swapped for MATIC and a portion was also swapped for ETH, which was bridged to the Ethereum Mainnet. The total loss from this exploit amounts to approximately 1,272,782 USD worth of MATIC and ETH.
Attacker Address:
Funds Holder as of Jan 03, 2024:
Malicious Transactions:
Malicious Contract Address:
Protocol details
Security review history
- CertiK View report
Funds Recovery
Recovered
$1.3M
Net Loss
$0
Post-Incident Timeline
-
2024-01-12
Telcoin restored stolen user funds fully as the company's CEO told.
Evidence
- report @telcoin incident report twitter.com
- analysis Web Archive archive.is
- analysis DeFiLlama defillama.com
Understand the attack patterns
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