THEY SAID NOTHING WAS LOST… AND TODAY THEY ADMITTED $200,000 WAS STOLEN 🔓😤
Look what happened with Unocoin, an exchange in India: on November 6, they detected unusual activity and said nothing had been lost. Today, they admitted that about $200,000 was stolen from three hot wallets—the ones connected to the internet to move funds for day-to-day operations.
The most incredible part is how the attackers got in: using backup keys generated 8 years ago, printed on paper, and stored physically. The exchange says it will cover the loss with its own funds and that more than 90% of customers’ money is kept in cold storage.
I think that in crypto, trust is earned through transparency, and that’s exactly where they fell short.
Do you trust your exchange to tell you if it gets robbed?
#CryptoSecurity
Look what happened with Unocoin, an exchange in India: on November 6, they detected unusual activity and said nothing had been lost. Today, they admitted that about $200,000 was stolen from three hot wallets—the ones connected to the internet to move funds for day-to-day operations.
The most incredible part is how the attackers got in: using backup keys generated 8 years ago, printed on paper, and stored physically. The exchange says it will cover the loss with its own funds and that more than 90% of customers’ money is kept in cold storage.
I think that in crypto, trust is earned through transparency, and that’s exactly where they fell short.
Do you trust your exchange to tell you if it gets robbed?
#CryptoSecurity
