Coinsph nawalan ng xrp , Mag-ingat

[tech30338]

Nawalan ng 12 million xrp ang coinsph sa incident na ito na medyo kakaiba xrp lang ang nawala subalit ang ibang coins ay hindi naman nadamay
pinadala ang tokens sa OKX at whitebit na exchange, Orbitbridge, simpleswap, changeNow and fixfloat,
Mixed ang tingin ko dito maaring inside job or meron tlga security breach na nangyare, kung ganeto maaring nasa panganib din ang ibang coins na naandito sa coinsph, matagal na akong nagtrade dito, pero ngaun hindi ko na maopen ang wallet ko or account, kung isa ka sa may mga coins dito or funds
I suggest na ilipat mo muna, sunod sunod na kasi ang breach na nangyayare, di malabo na pati ang ibang coins mawala din.
Narito ang balita, sana ay maalarma neto ang may mga funds, ingat tayo guys, anung tingin ninyo dito?
https://www.theblock.co/post/258701/philippines-based-exchange-coins-ph-appears-to-have-lost-12-2-million-xrp-in-possible-exploit

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[mirakal]

That's a significant hit for their exchange. The amount lost in this XRP hacking incident is equivalent to $6 million. I'd like to put that loss into perspective by comparing it to their annual revenue. From my research, they have...

Coins.ph's estimated annual revenue is currently $40.6M per year

https://growjo.com/company/Coins.ph

How are they planning to repay the amount lost? Their operations are definitely going to be impacted by this incident, and they'll likely be under investigation as well. Along the way, there might be some violations that could come to light, which is another problem for them.

So, OP is right; if we're using the local exchange, it might be a good idea to consider moving our funds from coins.ph.

[tech30338]

That's a significant hit for their exchange. The amount lost in this XRP hacking incident is equivalent to $6 million. I'd like to put that loss into perspective by comparing it to their annual revenue. From my research, they have...

Coins.ph's estimated annual revenue is currently $40.6M per year

https://growjo.com/company/Coins.ph

How are they planning to repay the amount lost? Their operations are definitely going to be impacted by this incident, and they'll likely be under investigation as well. Along the way, there might be some violations that could come to light, which is another problem for them.

So, OP is right; if we're using the local exchange, it might be a good idea to consider moving our funds from coins.ph.

We should, I also have funds in coinsph like a few dollars, but was unable to get that out, thankful already moved my bitcoin in coinsph, few years ago,
but we have also been warned before to never keep your funds on an exchange because we don't have control over it.
About how they are going to pay the holders is another discussion, they are not like binance, so we should wait for their announcement about the how they are going to cover the loses.

[Russlenat]

Thanks for the update, OP. I've already shared this news on Facebook so that my friends who have accounts on coins.ph are aware of it; they're probably checking their balances right now. I'm interested in how this incident will affect coins.ph. Will they close shop, or will they continue with business as usual?

One thing is certain, though – the confidence of the users won't be the same anymore.

[nutildah]

I was wondering why all withdrawals were suspended the other day... every type of withdrawal or cashout was suspended, not just crypto withdrawals (which I never do anyway b/c the fees tend to be way too high). These days I mostly just deposit pesos in Coins.ph and do my crypto exchange to pesos somewhere else... They are still the only app that allows me to send money to myself via M Lhuillier.

I'm not sure I trust them too much anymore... Too bad since I had an account with them since 2016.

[peter0425]

Nauubos na nga ang users nila tapos eto pa ang mangyayari? mabuti nalang talaga na matagal na akong hindi nagiwan ng kahit singko sa Coins,ph .
though sometimes ginagamit ko pa din sila bilang medium dahil may mga purchase akong sa coins,ph lang ang pwede gamitin.
pero majority ng gamit ko ay either Gcash or PayMaya or PayPal.

12 million XRP meaning nasa 6 million dollars yon? grabe anlaki nito kung susumahin na kung XRP nawalan ng ganito kalaki eh pano pa ang Bitcoin at Etereum na malang next target na?

parang SUnod sunod na ang nangyayaring security issues sa Bansa, Nauna nung nakaraang linggo ay PhilHealth , then Congress  and now Coins.ph naman .
wondering ano kaya ang susunod? ingat nalang tayo mga kabayan sa pag imbak ng mga coins natin.

[mirakal]

I was wondering why all withdrawals were suspended the other day... every type of withdrawal or cashout was suspended, not just crypto withdrawals (which I never do anyway b/c the fees tend to be way too high). These days I mostly just deposit pesos in Coins.ph and do my crypto exchange to pesos somewhere else... They are still the only app that allows me to send money to myself via M Lhuillier.

I'm not using coins.ph anymore since my account got banned, haha. I'm currently using Binance P2P. Regarding your observation, if they were operating normally, withdrawals shouldn't be suspended. This suggests that the hack might have already occurred yesterday, and they didn't make an immediate announcement.

I'm not sure I trust them too much anymore... Too bad since I had an account with them since 2016.

You should always exercise caution and wait for further developments. It's reassuring if they have a fund for the security of users' assets (SAFU) like Binance.

[arwin100]

I was wondering why all withdrawals were suspended the other day... every type of withdrawal or cashout was suspended, not just crypto withdrawals (which I never do anyway b/c the fees tend to be way too high). These days I mostly just deposit pesos in Coins.ph and do my crypto exchange to pesos somewhere else... They are still the only app that allows me to send money to myself via M Lhuillier.

I'm not sure I trust them too much anymore... Too bad since I had an account with them since 2016.

The long downtime is unexpected and many got worried about that situation since this is the first time happen to them. Luckily I had my balance at BNB at never use XRP at that since if I choose to convert it with that crypto maybe I will get a problem. But luckily I manage to take out my balance and transfer it to my bank account that's why right now I decide that never put any huge balance on coin.ph again since we might know what will happen next after this hacking incident happened to them.

For now will continue to use coins.ph but just for immediate transfer on remittances or on direct to my bank account for cashing out.

[bhadz]

Naipost ko din ito sa thread nila dito sa local natin: https://bitcointalk.org/index.php?topic=1558587.msg63029156#msg63029156

I was wondering why all withdrawals were suspended the other day... every type of withdrawal or cashout was suspended, not just crypto withdrawals (which I never do anyway b/c the fees tend to be way too high).

I was reading all of those posts that they've got on their Facebook account during that time of maintenance but they never highlight any reason for that. Many were annoyed by how long the maintenance took.

I'm not sure I trust them too much anymore... Too bad since I had an account with them since 2016.

I know what you feel, just like me, and others for sure feel the same way but it's because they're likely the easiest and most convenient to use.

For now will continue to use coins.ph but just for immediate transfer on remittances or on direct to my bank account for cashing out.

Ako din gagamitin ko pa rin sila kahit na sinubukan ko yung hold USDC feature nila. Affordable amount lang naman dineposit ko doon at mukhang XRP lang naman affected dito. Antayin lang natin official statement nila o baka hindi na sila mag release niyan para makalimutan lang.

[gunhell16]

I was wondering why all withdrawals were suspended the other day... every type of withdrawal or cashout was suspended, not just crypto withdrawals (which I never do anyway b/c the fees tend to be way too high). These days I mostly just deposit pesos in Coins.ph and do my crypto exchange to pesos somewhere else... They are still the only app that allows me to send money to myself via M Lhuillier.

I'm not using coins.ph anymore since my account got banned, haha. I'm currently using Binance P2P. Regarding your observation, if they were operating normally, withdrawals shouldn't be suspended. This suggests that the hack might have already occurred yesterday, and they didn't make an immediate announcement.

I'm not sure I trust them too much anymore... Too bad since I had an account with them since 2016.

You should always exercise caution and wait for further developments. It's reassuring if they have a fund for the security of users' assets (SAFU) like Binance.

Hehehe, nabanned ba dude, congrats hahaha... pero joke lang yun ah, dati rin akong user ng coinsph, umalis ako dyan dahil hindi ko alam kung anong klaseng verification ang gusto nila  sa level 3 and 4, samantalang nung time ng 2017 to 2018 parehas lang naman ng documents ID ang binigay ko, pagdating ng 3rd submission declined na ang putek. 

Kaya nga sabi ko ng mga panahon na yun magkaroon lang talaga ng ibang options na tulad ng coinsph aalis na ako dyan, ayun dumating si gcash apps lipat agad ako. Hindi na kasi maganda ang serbisyo ng coinsph by that time, hanggang ngayon naman ata ganun parin mas lumala pa nga ata. Kaya yang ngyayari na sa kanila, natutuwa pa ako, malaking butas yan sa kanila na pwede nilang ikalubog ng barko. Kaya sa mga may oras pa na mailabas ang assets na meron kayo dyan ilipat nio narin sa ibang exchange o noncustodial wallets, its better to decide now tahn later na hindi muna magagawa.

[robelneo]

Kaya pala nagkaroon sila ng mahabang downtime ngayun lang ata nangyari ito sa Coins.ph sa tinagal na trace na yung mga exchange na pinag sendan siguradong maeexpose ang identity ng mga hacker.
Active trade pa rin ako sa Coins.ph pero hindi nga lang malalaking amount dito na rin ako nagbabayad ng mga bills ko sa ngayun wala pa silang official announcement kundi assurance pa lang.
Kasi kung hindi sila mag bibigay ng assurance na ligtas pa rin ang funds ng kanilang mga users magkakaroon ng malaking duda ang mga user nila at magkakaroon ng Exodus sa ibang exchange.

[PX-Z]

That is shit, mabuti nalang na di ako regular user ng coins.ph mag iisang taon na, eh regular user pa naman ako ng xrp kase cheap transfer fee.

[Saisher]

Ang alam ko mayroon silang bug bounty
https://coins.ph/bug-bounty pero hindi rin ito nakatulong para ma hacker proof nila ang platform nila ang sama lang ng timing ng pagkakahack sa kanila kasi wala pang ilang buwan ng mangyari ang ibat ibang hacking sa mga government agencies.

Dapat mas mataas ang security score nila kasi ang claim nila mayroon sila milyon milyon na user mataas ang profit nila para makakuha ng mga security experts

[DabsPoorVersion]

Mabuti nalang talaga hindi na ko gumagamit ng coinsph simula ng iban nila yung account ko. Sa coins pa naman ako naghohold lalo na ang xrp. Tapos sobrang fan ako ng coins noon na tipong mas gamit ko pa siya kaysa gcash for load purchase and transfer of money, pero nagkataon lang na hindi ako gumamit ng online wallet for how many months and then nag issue sila ng restriction sa account ko for additional documents. Level 4 yung account ko nung mga panahong yun pero ang daming hiningi sa akin pero hindi ko pa din nabawi ung account pati na yung laman ng account ko kahit na nag-submit ako ng mga hiningi nila. 

[Eternad]

Ang alam ko mayroon silang bug bounty
https://coins.ph/bug-bounty pero hindi rin ito nakatulong para ma hacker proof nila ang platform nila ang sama lang ng timing ng pagkakahack sa kanila kasi wala pang ilang buwan ng mangyari ang ibat ibang hacking sa mga government agencies.

Dapat mas mataas ang security score nila kasi ang claim nila mayroon sila milyon milyon na user mataas ang profit nila para makakuha ng mga security experts

Shit always happens talaga sa mga centralized services since may threat lagi ng bug or inside job. Sa pagkakaalam ko ay centralized ang XRP kaya baka makapag request sila ng token freeze sa wallet ng hacker or request sa exchange kung saan pinasa yung token na ifreeze ung account.

Sobrang nakakalungkot ito dahil coins.ph ang isa mga pioneer company na nag introduce ng crypto sa Pinas at ito din ang pinaka most use na crypto app sa atin. Baka masira nanaman ang image ng crypto if ever magdeclare ng bankruptcy ang coins na sana ay hindi naman.

[kingvirtus09]

Mabuti nalang talaga hindi na ko gumagamit ng coinsph simula ng iban nila yung account ko. Sa coins pa naman ako naghohold lalo na ang xrp. Tapos sobrang fan ako ng coins noon na tipong mas gamit ko pa siya kaysa gcash for load purchase and transfer of money, pero nagkataon lang na hindi ako gumamit ng online wallet for how many months and then nag issue sila ng restriction sa account ko for additional documents. Level 4 yung account ko nung mga panahong yun pero ang daming hiningi sa akin pero hindi ko pa din nabawi ung account pati na yung laman ng account ko kahit na nag-submit ako ng mga hiningi nila. 

Parang kagaya ka pala ng isang nagcomment dito na madami daw hiningi na requirements at nagcomply naman daw siya pero ang dami daw alibi na kesyo kailangan pa raw ng ibang hinihingi. Ibig sabihin hindi ka nag-iisa, talaga palang ganyan ang ginawa nila sa mga account ng users nila. Hindi nga magandang serbisyo ang ganyang ginawa nilang yan.

sa nangyaring ganyan sa coinsph, hindi na ako magtataka kung isang araw biglang mabalitaan nalang natin na magsarado nalang yan bigla. dahil sa bigat ng isyu na kanilang kinakaharap, at for sure kahit sinabi nila na everything is under control, sa katotohanan hindi na nila makontrol ng maayos ang sitwasyong isyu na kanilang kinakaharap talaga. Matatalino naman ang user ng coinsph, alam na nila kung ano ang dapat nilang gawin.

[Johnyz]

12 Million XRP? Seryoso ba ito?
That’s around 300 Million in Peso and that’s a lot, kaya pala sunod sunod den ang maintenance nila.
Buti nalang talaga at hinde ako naghohold sa mga ganitong wallet, for withdrawal purposes ko lang ito pero sobrang bihira pa. That amount can totally effect the whole project, and baka ito pa ang dahilan ng pagsasarado nila. It’s sad kung may inside job na nangyare pero hopefully mabawi pa nila ito.

[bhadz]

12 Million XRP? Seryoso ba ito?
That’s around 300 Million in Peso and that’s a lot, kaya pala sunod sunod den ang maintenance nila.
Buti nalang talaga at hinde ako naghohold sa mga ganitong wallet, for withdrawal purposes ko lang ito pero sobrang bihira pa. That amount can totally effect the whole project, and baka ito pa ang dahilan ng pagsasarado nila. It’s sad kung may inside job na nangyare pero hopefully mabawi pa nila ito.

Seryoso yan kabayan pero ang idadahilan lang nila sayo kapag tatanungin mo sila kung nahack ba sila o kung seryoso ba yang balita na yan ay simple lang na may reputation daw sila at pinangangalagaan nila ang kanilang mga users sa mahabang panahon. Chineck ko lahat ng social medias nila at wala pa rin silang sinasabi sa pinublish ng The Block tungkol sa mga XRP transactions na galing sa kanila. Parang magpapa-lielow muna 'to sila bago sila magsalita hinggil sa nangyaring malakihang withdrawal na ito.

[Fredomago]

12 Million XRP? Seryoso ba ito?
That’s around 300 Million in Peso and that’s a lot, kaya pala sunod sunod den ang maintenance nila.
Buti nalang talaga at hinde ako naghohold sa mga ganitong wallet, for withdrawal purposes ko lang ito pero sobrang bihira pa. That amount can totally effect the whole project, and baka ito pa ang dahilan ng pagsasarado nila. It’s sad kung may inside job na nangyare pero hopefully mabawi pa nila ito.

Seryoso yan kabayan pero ang idadahilan lang nila sayo kapag tatanungin mo sila kung nahack ba sila o kung seryoso ba yang balita na yan ay simple lang na may reputation daw sila at pinangangalagaan nila ang kanilang mga users sa mahabang panahon. Chineck ko lahat ng social medias nila at wala pa rin silang sinasabi sa pinublish ng The Block tungkol sa mga XRP transactions na galing sa kanila. Parang magpapa-lielow muna 'to sila bago sila magsalita hinggil sa nangyaring malakihang withdrawal na ito.

Unless magagaya nila ang binance na naibalik yung nawalang pera baka hindi ganun kadami ang mabawas sa mga users nila, need kasi dito sa issue ng trust eh talagang mailabas mo yung pera nung mga nadamay, or kung ayaw mo mag admit na may nangyari ngang hack eh need ma-make sure na talagang my pondo at hindi mahihirapan mailabas yung perang naideposito ng mga users sa platform nila.

Sa ngayon, sila lang ang maaaring mag confirm nung insidente at kung anong action plan nila patungkol dito.

[nutildah]

I'm not using coins.ph anymore since my account got banned, haha.

This actually happened to me with Gcrypto, and I have no idea why... They won't tell me what I did wrong, just that I can't use their service anymore. I guess Coins.ph and Maya uses something different than PDAX for their backend, because the email was from PDAX. Kind of frustrating but they never replied to me so I have to move on.

The weird thing about Coins.ph is that for a few years, I wasn't allowed to deposit or purchase XRP from them. But then when they got bought by the new owner, they changed the rules, so now I can deposit it again... but I almost never use XRP. I see the fees are cheaper and it confirms fast but I have a hard time finding it anyway.