In essence, the strategy in this particular incident was like this -- identify hackable online bank accounts (in this case, BDO), transfer funds to an intermediary bank where you can siphon money to a fictitious or dummy bank account (in this case, UnionBank) and then use the collected funds to buy crypto-currency (in this case, Bitcoin). Read more in our articles including "Crypto has made hacking online banks more rewarding" and "BDO statement on fraudulent transactions".
Crypto has been around for a little more than a decade but it was only…
Jan 18, 2022
BDO Unibank posted a statement on Tuesday, January 9, urging its clients who were victimized…
Jan 11, 2018
BDO has sent out a notification alert earlier this month to all its banking subscribers…
Jan 31, 2017
BDO has just released a statement saying that it has not added any clauses to…
Dec 21, 2021
BDO has blocked some of its ATM (automated teller machine) debit and cash cards after…
Sep 2, 2017
The Bureau of Internal Revenue (BIR) released a new memorandum announcing the availability of the…
May 26, 2026In essence, the strategy in this particular incident was like this -- identify hackable online bank accounts (in this case, BDO), transfer funds to an intermediary bank where you can siphon money to a fictitious or dummy bank account (in this case, UnionBank) and then use the collected funds to buy crypto-currency (in this case, Bitcoin).
Our coverage of bdo unionbank bsp includes: "Crypto has made hacking online banks more rewarding"; "BDO statement on fraudulent transactions"; "BDO to charge Php10 to send to any BDO accounts". Each article provides unique insights and information.