Unocoin claims BitGo's multi-signature wallet backup mechanism may have been exploited.

Unocoin has received information from its custody service provider BitGo that BitGo froze Unocoin's enterprise account as instructed on November 6th, and the freeze has taken effect as expected. The relevant transactions were directly signed and broadcast on-chain by external entities, without passing through the BitGo platform. BitGo's multi-signature wallet's backup mechanism appears to have been exploited. Unocoin is investigating the asset loss and privacy concerns and plans to restore service upon completion of the investigation. On November 12, Unocoin discovered outgoing transfers from an ETH address in its BitGo wallet used for ERC-20 token funding.