Unocoin Suspends Withdrawals After Suspicious BitGo Wallet Transfers
Unocoin continues to suspend deposits, withdrawals and other services while investigating a security breach and suspicious transactions involving its BitGo wallet infrastructure. The exchange says BitGo froze its enterprise account at its request, but transactions may have been signed and broadcast through a wallet recovery mechanism outside BitGo’s platform. Unocoin has not confirmed that the feature was exploited, who authorized the transfers, or whether customer funds were lost. It says more than 90% of customer crypto is held in cold storage, but frozen accounts and limited transaction visibility have delayed a full assessment. The exchange is rebuilding its compromised server infrastructure and has requested transaction details from BitGo.
