Unocoin suspended user logins on November 9 after detecting unauthorized access to its servers, leaving customers unable to access their accounts. The Indian cryptocurrency exchange said it had identified suspicious activity and initiated security measures to contain the incident.

The disruption followed an earlier detection of suspicious activity on November 6, according to the supplied incident timeline. Unocoin maintains that customer cryptocurrency funds remain safe, while its technical team investigates the compromise and works towards restoring services.

Unocoin Freezes BitGo & Fireblocks Accounts After Suspicious Activity

Unocoin said suspicious activity detected on November 6 prompted it to freeze enterprise accounts maintained with BitGo and Fireblocks. The exchange confirmed that both custody providers acknowledged the freezes, preventing further transactions through those accounts. Unocoin also clarified that cryptocurrency is not stored directly on its servers.

Despite these precautions, further unauthorized activity surfaced on November 9. The exchange subsequently suspended all services after establishing that its infrastructure had been compromised. The investigation is still examining which systems were accessed and whether any customer information was exposed.

Update: On 9 November 2026, we identified unauthorised access to our servers. As a result, user logins have been temporarily disabled.

We want to reassure our users that no crypto funds have been lost.

Our team is actively investigating the incident and working on remediation. Unocoin will resume services once the investigation and necessary security measures are completed.

We will share our findings in due course.

We sincerely apologise for the inconvenience and appreciate your patience and understanding.

– Team Unocoin

— Unocoin: India’s Bitcoin & Crypto Exchange (@Unocoin) November 9, 2026

Unocoin Plans Complete Server Rebuild Within Five Working Days

Rather than restoring its existing server environment, Unocoin has decided to rebuild its entire infrastructure from scratch. The exchange estimates that the reconstruction will require approximately four to five working days.

The rebuilding process involves recreating the server environment, introducing enhanced security controls and validating the infrastructure before services resume. Unocoin has not established the exact root cause of the compromise or reconstructed the complete sequence of events.

Its technical team is simultaneously investigating potential data exposure, reviewing infrastructure vulnerabilities and coordinating with its custody providers to establish the status of cryptocurrency holdings.

Update: 12 Nov https://t.co/s8NNNMOZjc

— Unocoin: India’s Bitcoin & Crypto Exchange (@Unocoin) November 12, 2026

BitGo Wallet Transactions Raise Fresh Questions About Customer Funds

Unocoin's November 12 security update introduced another development. The exchange identified outgoing transactions from an Ethereum address within its BitGo wallet infrastructure used for funding ERC20 tokens.

The company immediately escalated the transactions to BitGo, which initiated a priority investigation into how they were executed.

Unocoin said its frozen BitGo enterprise accounts remain inaccessible, limiting its ability to inspect transaction details. It also highlighted BitGo's use of change addresses, which complicates the exchange's ability to independently establish wallet balances and trace transactions through blockchain explorers.

More than 90% of customer cryptocurrency holdings are maintained in cold storage, according to Unocoin. However, the exchange is still working with BitGo and Fireblocks to establish the complete status of its holdings and investigate potentially unintended transactions.

The outgoing transfers have intensified customer questions about empty onchain addresses and prompted demands for clearer proof of reserves. While Unocoin has maintained that protecting customer assets remains its priority, its latest update does not provide a complete verified accounting of the potentially affected transactions.

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