Custodian BitGo says its systems were not compromised during the security incident at Unocoin. According to its investigation, the unauthorized Ethereum transactions were signed with Unocoin’s user key and backup key, without BitGo’s key being involved. Unocoin suspended all services, including customer access, after detecting unauthorized activity on November 6, 2026, and then decided to rebuild its infrastructure. The platform says more than 90% of customer assets are held in cold storage and that no losses have been confirmed, while acknowledging that it does not yet have full visibility over every transaction because of change addresses. The investigation is continuing to determine whether the backup-key mechanism in its 2-of-3 multisig setup was compromised.
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