BitGo Says Unocoin Outflows Were Signed by Exchange’s Own Two Keys

Cointime update: BitGo said its systems were not breached in the Unocoin incident: the Indian exchange’s account was frozen on Nov. 6 and the freeze held, while recent outbound transactions were signed by Unocoin’s user and backup keys and broadcast directly on-chain outside BitGo’s platform. BitGo’s third key was never used and other clients were unaffected. Unocoin uses a 2-of-3 self-custody wallet and detected an outbound transaction from an Ethereum address on Nov. 12.