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Report: GCash stops hacking attempts, seized funds "intact"

GCash, the country's leading mobile wallet backed by Globe Telecom, was able to stop hacking attempts through which criminals target to siphon off cash from its millions of users across the country, according to a report. 
File photo: GCash app

GCash hacking incident?

Based on an Inquirer's report issued Tuesday noon, unauthorized transactions reached about PHP 37 million.

This was averted by GCash which immediately put a hold order on the transfers once the pattern was detected. The money is intact, and everything will be returned to our clients, a Globe official told Inquirer.

The firm was on the top trending list on Twitter this morning after several users reported experiencing suspicious transactions in their GCash accounts. Some of them said that bank transfers still went through despite receiving no one-time password.

However, in an advisory, GCash said that it launched an investigation and found no trace of any hacking incident. 

It also assured its customers that any deduction issue from their accounts would be settled before 3 PM.

We apologize for the inconvenience. The app is now back up and rest assured that your funds are safe, GCash said.

Source: Inquirer

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