#gcash hacking

In the investigation regarding the recent GCash fraud that happened two weeks ago, the Banko Sentral ng Pilipinas revealed that money was actually withdrawn from the two recipient bank accounts (East West and AUB). This is contrary to the statement that GCash made the following day: Digital wallet platform GCash said on Tuesday that there was “no fund loss” in the wake of alleged unauthorized transactions that some users faced. According to the BSP Governor Felipe Medalla, all affected GCash users had their money refunded but some of it was already shouldered by GCash. He added that "Effectively, GCash is shouldering the difference." but also noted that the security features of GCash is satisfactory, stressing that what happened is really a phishing incident and not hacking. Related Stories: How that GCash Hack Attempt Could Have Been Made GCash disables Bank Transfers after Account Deduction Incident GCash removes Biometric Login feature Reports of GCash users getting unauthorized deductions from their accounts and transferred them to an East West bank account ending 5239. Gcash today has issued an official statement regarding this incident. Official Statement Some customers may have experienced a deduction in their GCash account yesterday. We extended our scheduled maintenance to investigate and determined that no hacking occurred. Read more in our articles including "GCash lost money from recent fraud - BSP" and "GCash Official Statement on Account Deduction and Alleged Hacking".