đ Unocoin says three hot wallets were drained for about $200,000
Unocoin's 14 November update says 3 of its 20-plus operational hot wallets were compromised, and the estimated crypto loss is about $200,000, less than 1% of customer assets it holds. The Indian exchange said it will pay that loss itself, customer balances will not be cut, and a portion of the funds has been frozen. It traced the signatures to its own backup keys, created about eight years ago, printed and stored on paper, then used to broadcast transactions directly to the chains without BitGo. Emails, home addresses, encrypted passwords, KYC-related information and balances may have been exposed, but the team has found no evidence that KYC files were opened, and the service is not back yet.
â A custodian backup meant to survive BitGo going offline was the path out, which is a different failure from a breach of the custodian itself.
#Unocoin #BitGo
Unocoin's 14 November update says 3 of its 20-plus operational hot wallets were compromised, and the estimated crypto loss is about $200,000, less than 1% of customer assets it holds. The Indian exchange said it will pay that loss itself, customer balances will not be cut, and a portion of the funds has been frozen. It traced the signatures to its own backup keys, created about eight years ago, printed and stored on paper, then used to broadcast transactions directly to the chains without BitGo. Emails, home addresses, encrypted passwords, KYC-related information and balances may have been exposed, but the team has found no evidence that KYC files were opened, and the service is not back yet.
â A custodian backup meant to survive BitGo going offline was the path out, which is a different failure from a breach of the custodian itself.
#Unocoin #BitGo