“Indian cryptocurrency exchange Unocoin has remained inaccessible to users following a November 9 security incident, while blockchain analytics platform Arkham Intelligence is showing zero holdings across approximately 81,000 addresses associated with the exchange. Summary Unocoin temporarily disabled user logins after discovering unauthorized access to its servers on November 9, but maintained that no customer funds”, — write on: www.crypto.news
Indian cryptocurrency exchange Unocoin has remained inaccessible to users following a November 9 security incident, while blockchain analytics platform Arkham Intelligence is showing zero holdings across approximately 81,000 addresses associated with the exchange.
Summary
- Unocoin temporarily disabled user logins after discovering unauthorized access to its servers on November 9, but maintained that no customer funds were lost.
- Blockchain analytics account Onchain Lens reported that Arkham Intelligence showed zero holdings across approximately 81,000 addresses associated with Unocoin.
- Unocoin’s official website was returning a 504 Gateway Time-out error on November 12, three days after the exchange disclosed the security incident.
- The exchange has not released any further updates on the investigation or provided a timeline for restoring services as of November 12.
- crypto.news contacted Unocoin for clarification about the security incident, its cryptocurrency reserves, and the website disruption but had not received a response at press time.
In a November 9 statement, Unocoin confirmed that it had identified unauthorized access to its servers and temporarily disabled user logins while its security team investigated the incident.
The exchange assured customers that no cryptocurrency funds had been lost, although it did not provide details about how the unauthorized access occurred or which systems were affected.
Meanwhile, blockchain analytics account Onchain Lens has raised questions about Unocoin’s cryptocurrency holdings after pointing to Arkham Intelligence data showing a portfolio value of $0 across roughly 81,000 addresses attributed to the platform.
The account shared a screenshot of Unocoin’s Arkham entity page, where the portfolio section displayed no assets despite the large number of tracked addresses.
INDIA’S OLDEST CEX HACKED? 81K WALLETS SHOW $0
Unocoin reported unauthorized server access on November 9 and temporarily disabled user logins.
Meanwhile, Arkham shows $0 in holdings across its 81,000 tracked addresses, while its website is returning a 504 error.
We are… pic.twitter.com/vwmv57sgdn
— Onchain Lens (@OnchainLens) November 12, 2026
The figures have raised questions about Unocoin’s reserves, but the Arkham data alone cannot confirm whether the exchange holds customer funds in other wallets or whether any money has been lost.
Unocoin website remains inaccessible three days after security incident
As of November 12, Unocoin’s official website was returning a Cloudflare 504 Gateway Time-out error, indicating that its host server was not responding within the expected time.
Unocoin website returning 504 error. Source: crypto.news
A check of unocoin.com at approximately 06:57 UTC showed that the browser and Cloudflare’s Mumbai network were functioning normally, while the exchange’s host server was returning an error.
The website disruption follows the company’s decision to suspend user logins after discovering unauthorized server access on November 9.
Unocoin has not provided a timeline for restoring normal operations. In its original announcement, the company said services would resume after its investigation and the necessary security measures were completed.
“Our team is actively investigating the incident and working on remediation,” the exchange said.
The company apologized to customers for the disruption and promised to share its findings once more information became available.
As of November 12, Unocoin had not issued any further public updates regarding the investigation, the status of its services, or the security measures being implemented.
Arkham data raises questions about Unocoin’s cryptocurrency holdings
The exchange’s security problems have attracted further attention following the observations published by Onchain Lens concerning its tracked cryptocurrency wallets.
According to the blockchain analytics account, Arkham Intelligence lists approximately 81,000 addresses associated with Unocoin but currently displays a combined portfolio value of zero.
The screenshot accompanying the post identifies Unocoin as a centralized cryptocurrency exchange and shows the message “No assets found” within its portfolio dashboard.
Arkham’s entity tracking relies on identifying blockchain addresses associated with particular organizations. Consequently, the displayed portfolio represents assets attributed to the tracked entity, which may differ from an exchange’s complete financial holdings.
Unocoin’s November 9 statement maintained that customer cryptocurrency funds remained safe, but the company has not publicly addressed the wallet figures highlighted by Onchain Lens.
The exchange has not disclosed whether any assets were transferred between wallets during the investigation or provided an updated breakdown of its cryptocurrency reserves.
A similar dispute over wallet activity emerged in October when Indian cryptocurrency exchange CoinDCX denied allegations of another security breach involving nearly $16 million in cryptocurrency transfers.
Blockchain investigator ZachXBT had questioned transactions involving addresses identified through Arkham Intelligence. CoinDCX CEO Sumit Gupta maintained that the addresses belonged to infrastructure compromised during an earlier attack and that its current operational and customer wallets were unaffected.
CoinDCX later disclosed that 15.99 million USDT had been lost after deposits accumulated in wallets retired following its July 2025 security breach.
The exchange said its automated system for transferring funds out of those addresses had stopped working. Customers had already been credited for their deposits, and CoinDCX said it absorbed the losses without affecting their account balances.
Unocoin has yet to provide further details on investigation
Founded in 2013, Unocoin is among India’s earliest cryptocurrency exchanges and has operated through several periods of regulatory uncertainty affecting the country’s digital asset industry.
The company provides cryptocurrency trading services to Indian customers and has historically supported Bitcoin purchases and sales through its platform.
Its latest security incident has left customers awaiting information about when they will regain access to their accounts and whether normal trading and withdrawal services will resume together.
Unocoin has not specified whether the unauthorized access involved customer information, internal infrastructure, or systems responsible for handling cryptocurrency transactions.
The company has similarly not published a detailed incident report explaining the nature of the breach or the steps taken to secure the affected servers.
crypto.news has reached out to Unocoin for clarification regarding the security incident, its cryptocurrency holdings, the website disruption, and the expected restoration of services, but had not received a response at press time.
In its November 9 announcement, Unocoin said it would share its investigation findings in due course, without specifying a publication date.
India’s cryptocurrency industry has faced several major security incidents in recent years. In July 2024, WazirX lost more than $230 million after attackers compromised a cryptocurrency wallet used by the exchange.
The attack involved multiple digital assets and led to one of the largest reported cryptocurrency thefts involving an Indian trading platform.