Unocoin says funds left a frozen BitGo wallet via a backup key path
HACKUnocoincoinbrief/daily · 1 source
- Severity
- High
- Sources
- 1
What happened
Unocoin says BitGo's freeze on its account held on 6 November, yet funds left a wallet BitGo had confirmed as frozen on 13 November. It suspects a backup recovery path in BitGo's multisignature wallets was exploited, while BitGo's documents say its recovery tool lets clients move assets without BitGo and bypass their policies. Unocoin has suspended services since 9 November and is rebuilding its server stack.
For IT people · Written by AI from 1 source · Wrong?
What to do
- Watch for Unocoin's confirmation of the total amount lost and the cause of the backup key use.
- Watch for any BitGo response on how its recovery path was reached.
Written by AI from the sources, checked against them
Full story timeline · 1 update
Who reported · 1 outlet
Cryptopolitan
Who and what is in it
Companies