Unocoin Estimates About $200,000 in Losses After Hot Wallet Breach

Unocoin put its initial estimate of losses from a hot-wallet compromise at about $200,000, as the Indian cryptocurrency exchange said some funds had been frozen and its forensic investigation was continuing.

The exchange said three of its more than 20 operational hot wallets were compromised. It attributed the incident to exposed backup signing keys under its control and said BitGo's infrastructure was not responsible.

Unocoin did not provide a dollar amount for the frozen funds. It said some customer information may be exposed, but it had found no evidence that customer identity-verification files were accessed.

The exchange said it will cover the loss with its own funds and will not reduce customer account balances. Services have not resumed as Unocoin continues its investigation and rebuilds infrastructure.

The estimate updates Unocoin's earlier position, when it had not identified losses during its probe into suspicious wallet transfers.