Philippine Exchange Coins.ph Suffers Attack, Losing Over 12 Million XRP Tokens.

The

cryptocurrency

exchange Coins.ph, headquartered in the Philippines, appears to have suffered an attack on Tuesday, resulting in a loss of over 12 million XRP tokens (approximately 6 million US dollars). According to the XRP blockchain explorer, in approximately 30 minutes, an alleged hacker executed 13 exchanges of 999,999.999 XRP each, in addition to another batch of 200,000 XRP.

After obtaining nearly 12.2 million XRP tokens, the hacker subsequently sent these tokens through various

cryptocurrency exchanges

and platforms, including OKX, the European cryptocurrency-to-fiat exchange WhiteBIT, the cross-blockchain exchange OrbitBridge, the

cryptocurrency exchange

SimpleSwap, as well as two non-custodial exchanges, ChangeNOW and Fixed, among other destinations.

A spokesperson from WhiteBIT, in an email response to The Block, stated: “WhiteBIT promptly responded to the request from the Philippines' Coins exchange and blocked 445,000 Ripple.” Additionally, WhiteBIT has reached out to Cristal and Chainanalysis to request the tagging of addresses related to the stolen cryptocurrency.

By checking on the WikiBit website, it can be seen that Coins.ph does not hold a cryptocurrency license, and it has a relatively low overall rating. In the risk rating, it received a score of 0.