Unocoin says BitGo freeze held, but a backup key let funds leave on-chain

Unocoin says crypto left one of its wallets even though it froze its BitGo account in its latest update on the exploit it suffered. Unicoin thinks a backup recovery path in BitGo’s (NYSE: BTGO) multisignature wallets was used to move its funds, but it does not know who the perpetrator is. How did crypto leave a wallet that was frozen? Unocoin asked BitGo to freeze its company accounts on November 6 after it spotted suspicious activity. Its blog says the freezes began at 11:24 UTC for Fireblocks and 11:29 UTC for BitGo. Both custodians confirmed the freezes, and no losses were found at that point. However, on November 13, Unocoin said its money was moved out of the wallet that BitGo confirmed was frozen.

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