Unocoin Says One of Its BitGo Addresses Sent Out Transactions It Can’t Trace

Indian crypto exchange Unocoin said Thursday that it found outgoing transactions from one of its Ethereum (ETH) addresses in its BitGo wallet infrastructure, an address it used to fund ERC-20 tokens (tokens issued on Ethereum under a common standard). It disclosed the finding in an update to its incident post, three days after suspending all services. Unocoin said it escalated the matter to BitGo, a custody provider (a firm that holds and secures crypto on behalf of clients), and that BitGo opened an investigation into how the transactions were executed. According to Unocoin, BitGo “confirmed that the matter is being treated as a priority.” Unchained found no public statement from BitGo. The update gives no amount , transaction count, destination address or cause.

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