BitGo: Unocoin's recent fund transfers were not signed by BitGo, systems not compromised

Nov 13: According to BitGo's latest disclosure, the Unocoin account was frozen on Nov 6 and the freeze took effect as expected. BitGo's review found that recent outbound transactions from the Unocoin wallet were signed by the user key and backup key held by Unocoin, with no BitGo involvement, and were broadcast directly on-chain from outside. The Unocoin wallet uses a 2-of-3 multisig self-custody setup in which Unocoin holds two of the keys and BitGo holds only the third, which has never been used. BitGo said its systems were not compromised in this incident and that other clients were unaffected. Questions about Unocoin user funds should be directed to Unocoin.

Earlier today, Unocoin said BitGo's multisig backup mechanism may have been exploited and that it is investigating asset losses.