According to Unocoin's November 13 update, the Indian exchange is investigating whether a recovery mechanism in BitGo multisignature wallets was exploited to execute unauthorized cryptocurrency transfers. Unocoin detected suspicious activity on November 6 and requested account freezes with BitGo and custody provider Fireblocks. BitGo confirmed the freeze took effect, yet transactions were identified on November 12 that were signed and broadcast directly on-chain without passing through BitGo's platform. Unocoin has not established how the transfers were authorized, whether private keys were compromised, or the extent of cryptocurrency losses. The exchange has not announced a reopening date for customer access and trading.

View Source

Disclaimer: This content is for informational purposes only and does not constitute investment advice or encourage the buying or selling of crypto assets. It is intended to provide information about industry developments and is not directly related to the services offered by Gate TR. Although information obtained from third-party sources has been carefully reviewed, Gate TR assumes no responsibility for any errors or omissions. Crypto assets involve high risks and may experience significant price fluctuations. Before making any investment decisions, you should assess your financial situation and risk tolerance, conduct your own research, and make decisions independently.