Coins.ph Breach Warns Users to Take Action
One of the leading e-wallet service providers in the Philippines, Coins.ph, confirmed through a communication sent to some select users that they suffered some data breach and some users’ personal info was compromised.
Coins.ph emailed affected customers confirming the data breach allegedly occurring within the platform.
The management of Coins.ph stated that they have already taken immediate action and has heightened its security and risk controls.
The locally licensed crypto exchange also reassured that the funds remain secure, although personal data such as names, contact details, birth dates, hashed passwords, and IDs have been potentially compromised.
Based on the initial reports of the alleged data breach from Coins.ph, some crypto exchange users confirmed that they received some warnings from the company, but some users have yet to receive them.
According to some technical experts, this might indicate that all the emails have yet to be sent, or the breach may have only affected some users, prompting targeted communications from the company.
There has yet to be an official statement from the management of Coins.ph regarding the reported data breach.
Based upon the email sent to some Coins.ph customers, some personal information like Names, Contact Details, Date of Birth, hash passwords, and IDs were reportedly compromised.
Coins.ph strongly advised and encouraged their users to change their current passwords and use multi-factor authentication to safeguard accounts; this included utilizing email addresses, mobile numbers, and Google Authenticator as additional security layers.
The latest Coins.ph breach comes amid concerns over the safety of the controversial crypto exchange, following a recently reported exploit where the company allegedly lost over $6 million worth of XRP tokens.
Last October, there were reports of Coins.ph breach, resulting in the loss of 12 million XRP. Chainalysis confirmed that the token’s movement can be investigated in their product.
Read the Full Email from Coins.ph
We value your privacy and are reaching out to directly advise you of a recent data breach that resulted in the unauthorized access of personal information. Rest assured your funds are safe and secure, and no user assets were compromised. However, personal information such as your name, contact details, date of birth, hashed passwords and ID may have been affected.
In response to the incident, we have taken immediate action and implement enhanced security measures such as password and key rotation, and have tightened cyberseucrity and risk controls.
Affected users are strongly encouraged to change current passwords and use multi-factor authentication to safeguard accounts, this included utilizing email address, mobile number and Google Authenticator as additional security layers.
We sincerely apologize for any inconvenience this may have cause and are here to address any questions you may have. Our Data Protection Officer may be reached at dpo.betur@coins.ph and help@coins.ph
Sincerely,
Coins.ph team
NOTE: This is a developing story
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