According to Foresight News, decentralized finance (DeFi) platform Telcoin has experienced a security breach, resulting in a loss of approximately $1.3 million. The platform's native token, TEL, saw a 43.25% drop in value within 24 hours following the incident.
Telcoin has temporarily suspended the use of its application and will provide updates as soon as possible. The attack highlights the ongoing security concerns surrounding DeFi platforms and the need for increased vigilance and protection measures.