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BitGo Denies Security Breach as Indian Exchange Unocoin Investigates Wallet Transfers
(2 hours ago) · 1 source · Summarized by CryptoBipto
BitGo, a major cryptocurrency custody provider, has denied that its systems were breached following reports of suspicious wallet transfers involving Indian exchange Unocoin. Unocoin has stated it is investigating the transfers. The situation remains unresolved, with no confirmed details on whether customer funds were affected.
WHY IT MATTERS
When you hold cryptocurrency on an exchange, the exchange often uses a separate company called a "custodian" to store those coins securely — similar to how a bank might use a vault service.
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SOURCES
- thedefiant.io
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Crypto CustodyExchange SecurityBitGoUnocoinWallet Security