Odaily reports: Indian cryptocurrency exchange Unocoin stated in a security update on November 12 that investigators discovered outgoing transactions from Ethereum addresses associated with its BitGo wallet infrastructure, and has submitted the matter to BitGo for investigation. The relevant corporate accounts had previously been frozen, and the limited visibility into the account address change mechanism increased the difficulty of verifying asset flows.
Unocoin said that after discovering unauthorized activity on November 6, it requested the freezing of Fireblocks and BitGo corporate accounts at 11:24 UTC and 11:29 UTC respectively, at which time no loss of funds was found. The exchange stated that over 90% of customer crypto assets are held in cold wallets.
Unocoin is rebuilding its server infrastructure, which is expected to take 4 to 5 business days; customer login, trading, and withdrawals remain unavailable at present. Arkham data shows that approximately 80,986 addresses attributed to Unocoin have zero balances, but this data alone cannot prove that customer funds have been stolen. (Bitcoin.com News)
