Indian cryptocurrency exchange Unocoin has kept deposits and withdrawals suspended while it investigates suspicious transfers from wallets linked to custodian BitGo. Unocoin said BitGo froze its enterprise account on Nov. 6 at its request and that the freeze worked as intended. It said the transactions were signed and broadcast outside BitGo’s platform, but it has not established how they occurred or whether any digital assets were lost.
Unocoin suspects that a wallet recovery feature may have been misused. It said it suspended all services after detecting further activity and later disclosed outgoing transactions from an Ethereum address in its BitGo wallet infrastructure, saying its servers had been compromised. The exchange has not announced a date for restoring services.
