According to ME News, on November 12 (UTC+8), Indian cryptocurrency exchange Unocoin issued an update regarding a security incident, stating that on November 12, it detected outgoing transactions from an ETH address used to fund ERC-20 tokens in its BitGo wallet. BitGo has intervened to investigate. Since the corporate account remains frozen, Unocoin is currently unable to fully ascertain all anomalous transactions.
Unocoin stated that over 90% of user crypto funds are stored in cold wallets, and the company is currently rebuilding its entire server infrastructure from scratch, which is expected to take approximately four to five business days.
Unocoin first detected unauthorized activity on November 6 and subsequently requested the freezing of its enterprise accounts at Fireblocks and BitGo at 19:24 and 19:29 on the same day. On November 9, after detecting additional unauthorized activity, Unocoin suspended all services. The investigation confirmed that its infrastructure had been compromised; the root cause, scope of impact, and potentially exposed data are still under investigation. (Source: Foresight News)
Unocoin Discovers Unauthorized ETH Transfers from BitGo Wallet
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Summary
ETH news: Indian crypto exchange Unocoin reported on November 12 (UTC+8) that it detected unauthorized ETH transfers from a BitGo wallet used for funding ERC-20 tokens. BitGo has launched an investigation. Unocoin noted that over 90% of user funds are stored in cold wallets and is rebuilding its server infrastructure, a process expected to take 4–5 business days. Unauthorized activities were first detected on November 6, prompting account freezes with Fireblocks and BitGo. Services were suspended on November 9 after additional unauthorized activity was identified. The root cause and extent of the breach remain under investigation. ETH update: The incident underscores ongoing security concerns in the crypto space.
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