Unocoin Says It Cannot Fully Trace Transactions From a BitGo Address

Indian crypto exchange Unocoin said it detected transfers from an Ethereum address in its BitGo setup but cannot fully assess potentially unintended activity across its BitGo wallets after losing account access.

The exchange’s BitGo enterprise accounts remain frozen, and it cannot log in. Unocoin requested transaction-level records. It said BitGo’s use of change addresses—new addresses that receive leftover funds after a transaction—across much of its wallet architecture complicates on-chain tracing.

The update gave no transaction count, amount, destination address or cause. Unocoin suspended all services Nov. 9 after detecting further unauthorized activity and had previously disclosed unusual transfers tied to BitGo. The exchange said an investigation found its infrastructure had been compromised. BitGo has opened an investigation into how the transactions were executed.