🔒 India's Unocoin keeps deposits and withdrawals frozen over suspect transfers
Indian exchange Unocoin says deposits and withdrawals remain suspended while it investigates suspicious transfers from wallets linked to custodian BitGo. The exchange said BitGo froze its enterprise account on Nov. 6 at its request, yet the transactions were signed and broadcast outside BitGo's platform.
Unocoin suspects a multisig wallet recovery feature was misused and has not yet established whether it lost any assets. It earlier said its servers had been compromised, and no date has been set for restoring services.
⭐ The case puts custody setups and wallet recovery mechanisms under the spotlight, and Unocoin's users remain locked out until the probe is done.
#Unocoin #India #CryptoSecurity #BitGo
Indian exchange Unocoin says deposits and withdrawals remain suspended while it investigates suspicious transfers from wallets linked to custodian BitGo. The exchange said BitGo froze its enterprise account on Nov. 6 at its request, yet the transactions were signed and broadcast outside BitGo's platform.
Unocoin suspects a multisig wallet recovery feature was misused and has not yet established whether it lost any assets. It earlier said its servers had been compromised, and no date has been set for restoring services.
⭐ The case puts custody setups and wallet recovery mechanisms under the spotlight, and Unocoin's users remain locked out until the probe is done.
#Unocoin #India #CryptoSecurity #BitGo
