Unocoin Suspends Services Amid Security Probe

BitGo froze Unocoin’s enterprise account on Nov. 6 at the exchange’s request. Unocoin said the freeze appeared to have worked as intended and that the transfers were signed and broadcast onchain outside BitGo’s platform, according to its Friday update (1). [1]

Unocoin said it was investigating possible use of the wallet’s backup signing option and whether any cryptocurrency was lost. The exchange did not respond to Cointelegraph’s request for more information before publication (1). [1]

Unocoin first detected unauthorized activity on Nov. 6 and suspended all services on Monday after detecting further activity. On Thursday, it disclosed outgoing transfers from an Ethereum address associated with its BitGo wallets and said its infrastructure had been compromised (1). [1]

Unocoin has suspended deposits and withdrawals as it investigates suspicious wallet transfers and a breach of its own systems. BitGo confirmed in a statement that the transaction examined was signed using the user and backup keys held by Unocoin and broadcast externally onchain, without BitGo’s participation (1). [1]

BitGo froze Unocoin’s enterprise account on Nov. 6 at the exchange’s request. Unocoin said the freeze appeared to have worked as intended and that the transfers were signed and broadcast onchain outside BitGo’s platform, according to its Friday update (1). [1]

Unocoin first detected unauthorized activity on Nov. 6 and suspended all services on Monday after detecting further activity. On Thursday, it disclosed outgoing transfers from an Ethereum address associated with its BitGo wallets and said its infrastructure had been compromised (1). [1]

Unocoin has suspended deposits and withdrawals as it investigates suspicious wallet transfers and a breach of its own systems. BitGo froze Unocoin’s enterprise account on Nov. 6 at the exchange’s request. Unocoin said the freeze appeared to have worked as intended and that the transfers were signed and broadcast onchain outside BitGo’s platform, according to its Friday update (source ID: 1). [1]

BitGo stated in a statement that the transaction examined was signed using the user and backup keys held by Unocoin and broadcast externally onchain, without BitGo’s participation. BitGo’s systems were not breached in connection with that transaction, according to the statement (source ID: 1). [1]

Unocoin said it was investigating possible use of the wallet’s backup signing option and whether any cryptocurrency was lost. The exchange did not respond to Cointelegraph’s request for more information before publication. Unocoin first detected unauthorized activity on Nov. 6 and suspended all services on Monday after detecting further activity (source ID: 1). [1]

Sources

CoinTelegraph (All)

Prepared with AI assistance from the cited sources.