In a report published on November 13, 2026, at 15:52 (UTC+8), ChainCatcher said Indian cryptocurrency exchange Unocoin had issued an update on its incident investigation. According to Unocoin, it had received the information and explanations it requested from custody provider BitGo.
Unocoin said BitGo froze the exchange’s corporate account at its request on November 6, 2026, and that the freeze was working as intended. The exchange also said the transactions under investigation were signed outside BitGo’s platform and broadcast directly to the blockchain network.
Unocoin’s preliminary investigation indicated that a BitGo multisignature-wallet backup mechanism—intended to preserve access to user assets if the service provider became unavailable—may have been exploited. That remains a preliminary finding, not a confirmed explanation of how the transactions were authorized. The update does not quantify any asset loss or establish who controlled the signing process.