WORLDTECHBitGo says Unocoin transfers were signed with two exchange-held keys
Crypto custody firm BitGo says its systems were not breached in the Unocoin incident. Its review found that the outgoing transactions were signed with two keys held by the Indian exchange, according to a report by crypto.news.
BitGo's account of the signed transfers
BitGo says its review found that outgoing transactions from the affected accounts were signed using two keys that were held by Unocoin, the Indian cryptocurrency exchange. The company states that these signatures were applied after Unocoin's account had been frozen.
BitGo maintains that the disputed transfers used Unocoin-held keys and that it did not take part in them.
Unocoin's suspicion and suspended services
Unocoin suspects that a backup mechanism was misused, according to the same report. Its services remain suspended while the matter is examined.
The facts available do not say how the backup mechanism would have been used or who would have used it.
Open questions
- How the backup mechanism was misused, if it was, remains unclear?
- When Unocoin's services will resume has not been stated?