Unocoin Says One of Its BitGo Addresses Sent Out Transactions It Can’t Trace

Unocoin has suspended all services after detecting further unauthorized activity tied to one of its BitGo addresses, with the Indian exchange saying it cannot yet trace the transactions or determine their full extent three days after the halt. The exchange is waiting on BitGo, its custody provider, for details on the outbound transfers, leaving the scope of any losses undisclosed. The incident puts a spotlight on third-party custody arrangements at a time when exchanges are under pressure to prove reserves and transaction transparency. What to watch next is BitGo's account of the flagged transactions and whether Unocoin quantifies the exposure and sets a timeline for restoring withdrawals.