Unocoin Hacked: Indian Crypto Exchange Finds Unauthorised ETH Outflows, Services Suspended Since 9 November

Indian cryptocurrency exchange Unocoin said on 12 November that it had found outgoing transactions from one of the ETH addresses in its BitGo wallet infrastructure, after attackers compromised its servers. It hasn't said how much was moved. All services have been suspended since 9 November, so customers can't log in, trade or withdraw.

Accounts frozen on 6 November, shutdown on 9 November

Unocoin's update dates the first unauthorised activity to Friday, 6 November. That day, the exchange says, it asked its two custody providers, BitGo and Fireblocks, to freeze its enterprise accounts, and at that point it had found no loss of funds. Three days later it detected further unauthorised activity and shut everything down, then found its server infrastructure had been compromised.

The exchange's first public notice, on X on 9 November, said "no crypto funds have been lost". The 12 November update no longer says that. Unocoin says the ETH address that sent the transactions was used to fund ERC-20 tokens, and BitGo is investigating. Because the BitGo accounts are still frozen, it can't log in to see every transaction.

The empty-wallet claim

On-chain analysts at Onchain Lens posted on 12 November that 81,000 wallets attributed to Unocoin by Arkham show a balance of $0. That is a claim about labelled addresses, not proof of theft: Blockonomi notes the exchange may have moved its reserves to new wallets Arkham hasn't labelled. Unocoin hasn't addressed the figure, though it says more than 90% of customer crypto is kept in cold storage and that no coins sit on its servers directly.

Whether customer personal data was exposed, Unocoin says, is still under investigation.

When the exchange may return

Unocoin is rebuilding its server infrastructure from scratch and puts the work at about 4–5 working days, without a date for trading or withdrawals. Customers with questions can call its support line, 7788978910, open 9:30am to 6:30pm IST, Monday to Saturday.