Unocoin, the popular India-based bitcoin exchange had been experiencing technical difficulties with its services in the past week. The problems prompted the platform to be unavailable for around 4 days from the 23rd June until yesterday, the 27th of June.
The Unocoin team reportedly had discovered a security vulnerability on its platform on June 23rd at 12:07 PM which was the result of a server migration that took place on the 14th of June. To be precise, the server had ended up with a vulnerable version of third party module. Though the vulnerability didn’t cause any damage to the platform, in the best interest of its customers and their funds, Unocoin elected to stop customer withdrawals, block exchange access to customers and shut down all operations to investigate and analyze the issue.
As a result of the issues, the Unocoin team has gone the extra mile and rebuilt their server infrastructure and also took to the task of reinforcing its servers with stronger security measures and protocols.
The Unocoin team stated:
“Customer’s interest is always of highest priority for Unocoin and the downtime of the platform was a conscious decision that was taken on the same line. We want to assure you that your funds’ security and trust continues to be our top priority and we continue to strive for serving you better. Our engineering team had been very committed and actively contributing round the clock to gear up the security for our services. The downtime and its inconvenience it has caused to you are highly regretted by the entire team of Unocoin.”
For user patience and understanding, the exchange has announced 0% transaction fees for trading until the 30th of June.
