Unocoin Submits Investigation into BitGo Ethereum Address Withdrawals

Unocoin stated in a security update on November 12 that investigators discovered outgoing transactions associated with its BitGo wallet infrastructure and have submitted a request for an investigation into BitGo. The relevant corporate accounts had previously been frozen, and the limited visibility of the account change address mechanism has increased the difficulty of tracing asset flows. Unocoin reported that after unauthorized activity was detected 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 stored in cold wallets. Unocoin is in the process of rebuilding its server infrastructure, which is expected to take 4 to 5 working days; currently, customer login, trading, and withdrawals remain unavailable. Arkham data shows that approximately 80,986 addresses belonging to Unocoin have a zero balance, but this data cannot independently prove that customer funds have been stolen.

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