Unocoin stated that the transactions were signed and broadcast outside BitGo’s platform, while BitGo noted that the account freeze functioned as expected.
Update (Nov. 13, 2026, 12:30 pm UTC): This story has been updated to incorporate BitGo’s statement and clarify that the account lockdown affected operations processed via BitGo’s network.
Indian digital asset platform Unocoin continues to keep deposits and withdrawals paused while examining suspicious wallet movements and an internal system compromise.
BitGo locked Unocoin’s enterprise profile on Nov. 6 following a request from the exchange. Unocoin mentioned that the freeze appeared to operate correctly and that the transactions were signed and published onchain outside of BitGo’s infrastructure, according to its Friday update.
“Our review determined that the transaction in question was authorized utilizing the user and backup keys controlled by Unocoin and published externally onchain, independent of BitGo. BitGo’s infrastructure was not compromised regarding that transfer,” BitGo stated in a message to Cointelegraph.
The firm explained that the restriction affected only operations processed through its infrastructure and that the movements were authorized via keys managed by Unocoin independently of BitGo’s architecture.
Unocoin indicated it was examining the potential utilization of the wallet’s backup authorization feature and checking whether any digital assets were missing. The trading platform did not reply to Cointelegraph’s inquiry for further details prior to publication.
Unocoin first identified suspicious activity on Nov. 6 and halted all operations on Monday after discovering additional movements. On Thursday, it reported outgoing transfers originating from an Ethereum wallet tied to its BitGo accounts and stated that its network had been breached.
A Nov. 5 warning issued by India’s cybersecurity authority highlighted an AI-driven operation targeting digital asset platforms and other financial institutions. No association with Unocoin’s event has been confirmed.
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Originally published at https://cointelegraph.com/news/unocoin-withdrawals-halted-bitgo-wallet-transfer-probe?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
