BitGo says Unocoin account was frozen on November 6; outgoing transactions were signed by keys held by Unocoin
BitGo disclosed on its official X account on November 13, 2026, that the Unocoin account had been frozen on November 6, and that the freeze took effect as expected. BitGo’s review found that recent outgoing transactions from the Unocoin wallet were signed by the user key and backup key held by Unocoin, with BitGo not involved, and the transactions were broadcast directly to the blockchain from outside.
The Unocoin wallet uses a 2-of-3 multisig self-custody setup. Unocoin holds two of the keys — the user key and the backup key — while BitGo holds the third key, and that key has never been used. BitGo said its systems were not breached as a result of this incident, and other customers were not affected. Questions about Unocoin users’ funds should be directed to Unocoin.
Original source:
Title: Official BitGo statement (X post)
Publisher: BitGo (@BitGo)
Publication date: 2026-11-13
URL: x.com/BitGo/status/2121244944169877788
Source nature: Official company X statement
Verification status: The full text of the original post was actually read in this instance
Supporting content: The Unocoin account was frozen on November 6 and the freeze took effect as expected; outgoing transactions were signed by the user key and backup key held by Unocoin and broadcast to the blockchain from outside; in the 2-of-3 multisig self-custody setup, BitGo’s third key has never been used; the system was not breached and other customers were not affected; questions about users’ funds should be directed to Unocoin
ABAB AI Insight
BitGo’s statement describes the account freeze and the transaction-signing process separately: the freeze took effect on November 6 and restricted activity through the BitGo platform, while recent outgoing transactions were signed with Unocoin-held user and backup keys, completed outside the platform, and broadcast directly to the blockchain. This description is consistent with BitGo’s publicly stated 2-of-3 multisig self-custody wallet mechanism, in which the customer can sign with the user key and backup key without using the BitGo key.
The statement makes clear that BitGo’s third key was never used and that the company’s systems were not breached because of this incident. The statement that other customers were not affected limits the scope of the event to the Unocoin-related wallet. BitGo directed questions about user funds to Unocoin and did not provide further details on the amount of any losses or where responsibility lies.
Unocoin had previously disclosed that it detected the outgoing transactions and requested a freeze, and said it was investigating. Indicators to watch in subsequent developments include whether Unocoin discloses the specific fund impact, whether it confirms the path through which the keys were used, and whether the two sides issue further joint or separate statements on the incident.
ABAB News · Cognition Law
In 2-of-3 multisig self-custody, when the customer holds two keys, it can sign and broadcast transactions outside the platform.
An account freeze can restrict activity through a custody platform while not blocking external transactions signed with customer-held keys.
BitGo can state that the system was not breached and that other customers were not affected, while directing fund-related questions to Unocoin.