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Indian Exchange Unocoin Halts All Services After Hackers Bypass BitGo Wallet Freeze
(1 day ago) · 1 source · Summarized by CryptoBipto
Unocoin, one of India's oldest cryptocurrency exchanges, has suspended all services after hackers reportedly managed to bypass a freeze placed on its wallets by custody provider BitGo. The incident has left the extent of customer fund losses unclear, and the exchange has taken its platform offline while it investigates.
WHY IT MATTERS
When you use a cryptocurrency exchange, your funds are typically held in digital wallets managed by the exchange or a specialized company called a custodian.
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SOURCES
- cryptoslate.com
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Exchange SecurityCustody SolutionsHackingIndian Crypto MarketBitGo