Indian cryptocurrency exchange Unocoin has suspended deposits and withdrawals while investigating suspicious transfers from wallets linked to custodian BitGo. BitGo froze Unocoin’s enterprise account at the exchange’s request on Nov. 6, following the detection of unauthorized activity. Unocoin said the transactions were signed and broadcast outside BitGo’s platform, possibly through a recovery feature built into its multisignature wallets. The exchange suspects that this feature was misused but has not yet determined how the transfers occurred or whether it lost any digital assets. No connection has been established with an AI-assisted lottery campaign reported by India’s cybersecurity agency on Nov. 5.
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