BitGo says the recent outgoing transactions involving Unocoin were signed with two keys held by Unocoin, then broadcast to the blockchain externally. BitGo said it did not participate in the transactions and that its systems were not breached.
In its account of the wallet setup, BitGo described a 2-of-3 self-custody multisignature arrangement: Unocoin held the user key and backup key, while BitGo held the third key. BitGo said its key was never used. It also said Unocoin’s account had been frozen on November 6, the freeze mechanism worked as intended, and no other customers were affected. BitGo directed questions about Unocoin users’ funds to Unocoin.
Unocoin had previously said the wallet’s backup design allowed access to funds if BitGo became unavailable. It said that backup mechanism may have been exploited and that it was investigating. The two statements do not establish how the reported transactions came about.
Original report: Foresight News, published November 13, 2026, at 23:13 (UTC+8).