According to Foresight News, Telcoin has released an update on a security incident, stating that it has completed preparations and internal testing for the recovery process and has initiated an external audit of the new proxy deployment. The external company will need a few days to complete the audit, after which Telcoin will execute the recovery process and then resume Telcoin App services. Previously, Foresight News reported that on-chain monitor MetaScout discovered a series of targeted attacks on Telcoin wallets, resulting in a loss of approximately $1.2 million.