India's Oldest Crypto Exchange Unocoin Goes Dark as 81,000 Tracked Wallets Show Zero Balances

Published November 12, 2026, 12:45 PM PKT. Based on Unocoin's November 9, 2026 statement (primary source), reporting by crypto.news on November 12, 2026, on-chain data flagged by Onchain Lens on November 12, 2026, and reporting by Phemex News, Lookonchain and KuCoin News (secondary sources). Unocoin has not confirmed a hack, and the Arkham data alone does not prove customer funds were lost.

India's oldest cryptocurrency exchange has been dark for three days after reporting unauthorized access to its servers, and blockchain data flagged on November 12, 2026 shows zero holdings across about 81,000 addresses attributed to the platform, raising questions the exchange has not answered.

Unocoin disclosed the incident on November 9, 2026, saying it had found unauthorized access to its servers and had temporarily disabled user logins while its security team investigated. The exchange said no customer funds had been lost, but it did not say how the access happened or which systems were affected. As of November 12, its website was returning a Cloudflare 504 Gateway Time-out error, meaning the host server was not responding, according to crypto.news, which checked the site at about 06:57 UTC and found the browser and Cloudflare's Mumbai network working normally while the exchange's own server returned the error. Unocoin has published no further update and no timeline for restoring service.

81,000 wallets, zero balance on Arkham

The new questions came from Onchain Lens, a blockchain analytics account, which reported on November 12 that Arkham Intelligence showed a portfolio value of zero across roughly 81,000 addresses attributed to Unocoin. A screenshot shared with the post showed the message "No assets found" on Unocoin's Arkham entity page, despite the large number of tracked addresses. Onchain Lens said it was investigating on-chain fund movements to determine the exact method of the attack, according to Odaily Planet Daily, as carried by KuCoin News.

The figures alone do not prove a theft. Arkham's entity tracking relies on identifying addresses associated with an organization, so the displayed portfolio may differ from an exchange's complete holdings, and Unocoin may hold customer funds in wallets Arkham does not track. Unocoin has not publicly addressed the wallet figures, and crypto.news said it contacted the exchange for clarification about the incident, its reserves and the website disruption and had received no response at press time.

What Unocoin has said, and what it has not

"Our team is actively investigating the incident and working on remediation," the exchange said in its November 9 announcement, apologizing to customers and promising to share its findings once more information became available. Three days later, no findings had been shared.

The exchange has not said whether the unauthorized access involved customer information, internal infrastructure, or systems that handle cryptocurrency transactions, and it has not published a detailed incident report explaining the nature of the breach or the steps taken to secure the affected servers. Customers are waiting to learn when they will regain access to their accounts and whether trading and withdrawals will resume together.

India's exchanges have been here before

Unocoin was founded in 2013 and is among India's earliest cryptocurrency exchanges. It provides trading services to Indian customers and has historically supported Bitcoin ($BTC) purchases and sales through its platform.

In July 2024, WazirX lost more than $230 million after attackers compromised a wallet used by the exchange, one of the largest reported thefts involving an Indian trading platform. In October 2026, CoinDCX denied allegations of another breach involving nearly $16 million in transfers, then disclosed that 15.99 million Tether ($USDT) had been lost after deposits accumulated in wallets retired following its July 2025 security breach. CoinDCX said its automated system for moving funds out of those addresses had stopped working, that customers had already been credited for their deposits, and that it absorbed the losses without affecting account balances.

What to watch next

Three things decide what happens next. The first is Onchain Lens's tracing of fund movements, which may show whether any assets left Unocoin's wallets and where they went. The second is Unocoin's next statement, which customers are waiting on for findings, a reserves breakdown and a restoration date. The third is the return of logins and the website itself, which has now been down for three days.

Until one of those produces an official word, the position stands as it has since November 9: logins disabled, website down, no customer funds lost according to the exchange, and 81,000 tracked addresses showing zero on Arkham with no explanation from the company.

Sources

• Unocoin, Statement on unauthorized server access, November 9, 2026 (primary source: unauthorized access to servers identified, user logins temporarily disabled, team actively investigating and working on remediation, no customer funds lost; quoted in full by crypto.news, as the exchange's own website is currently returning a 504 error)
• crypto.news, Unocoin hacked? Website remains down as 81,000 wallets show zero holdings, November 12, 2026 (secondary source: website returning a 504 error on November 12, three days after the incident; check at about 06:57 UTC found the host server returning the error; Arkham showed zero holdings across about 81,000 addresses; no further updates and no timeline; exchange did not respond to outreach; WazirX lost more than $230 million in July 2024)
• Lookonchain, India's veteran crypto exchange Unocoin is suspected of being hacked, with balances of 81,000 tracked addresses showing zero, November 12, 2026 (secondary source: Onchain Lens monitoring, unauthorized server access reported November 9, logins temporarily disabled, about 81,000 tracked addresses show zero balances, website returning a 504 error)
• Phemex News, Unocoin Hack: 81K Crypto Addresses Show Zero Balance, November 12, 2026 (secondary source: India's oldest centralized exchange reported unauthorized access on November 9 and suspended user logins; Arkham revealed the 81,000 tracked addresses now hold zero balances; related on-chain fund movements remain under investigation)
• KuCoin News, Unocoin servers suffered unauthorized access; 81,000 addresses show zero holdings on Arkham, November 12, 2026 (secondary source: Odaily Planet Daily reporting that Onchain Lens is investigating on-chain fund movements to determine the exact method of the attack)

This article is news reporting and is not investment advice.