Coins.ph Archives - Times Tabloid https://timestabloid.com/tag/coins-ph/ Cryptocurrency and Blockchain Tabs Sat, 21 Oct 2023 14:26:51 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://timestabloid.com/wp-content/uploads/2021/08/cropped-Times-Tabloid-Favicon-32x32.png Coins.ph Archives - Times Tabloid https://timestabloid.com/tag/coins-ph/ 32 32 This Ripple ODL Partner Loses $6.2 Million in XRP To Security Breach. Here’s What Happened https://timestabloid.com/this-ripple-odl-partner-loses-6-2-million-in-xrp-to-security-breach/ Sat, 21 Oct 2023 14:24:00 +0000 https://timestabloid.com/?p=23267 Coins.ph, a Philippines-based cryptocurrency exchange and Ripple ODL partner, faced a substantial security breach resulting in the loss of more than 12 million XRP coins, amounting to approximately $6.2 million. The breach occurred on October 17, 2023, and was performed by a suspected hacker who conducted a series of transactions. This hacker exchanged 999,999.999 XRP […]

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]]> Coins.ph, a Philippines-based cryptocurrency exchange and Ripple ODL partner, faced a substantial security breach resulting in the loss of more than 12 million XRP coins, amounting to approximately $6.2 million.

The breach occurred on October 17, 2023, and was performed by a suspected hacker who conducted a series of transactions. This hacker exchanged 999,999.999 XRP 13 times and an additional 200,000 XRP. One of the transactions failed to complete, but the hacker got away with 12.2 million XRP.

To launder the stolen tokens, the hacker moved them to various exchanges, including WhiteBIT, OKX, OrbitBridge, Fixed Float, SimpleSwap, and ChangeNOW.

WhiteBIT’s Response

WhiteBIT, in response to the situation, blocked 445,000 XRP that was sent to its platform upon request from Coins.ph. Furthermore, WhiteBIT has reached out to blockchain analytics and tracking firms to flag addresses linked to the stolen XRP.

Coins.ph has not issued an official statement regarding the breach or the actions they’ve taken to prevent such an incident from happening in the future. However, it is notable that the exchange continues to operate without disruption despite the security breach.

The CoinEx Hack

This unsettling occurrence comes on the heels of another cryptocurrency exchange, CoinEx, being targeted by hackers. The hackers made away with over 12.6 million XRP, which, at the time, was valued at approximately $6 million.

However, the breach at CoinEx was more extensive, resulting in a total loss of $54 million. The perpetrators also made off with other cryptocurrencies, including BTC, ETH, MATIC, BNB, SOL, BCH, and more. In response to this attack, CoinEx temporarily suspended deposits and withdrawals as it initiated an investigation into the hack.

The cryptocurrency market is no stranger to such security breaches, underscoring the importance of robust security measures and proactive response strategies for exchanges. Coins.ph and CoinEx are just two recent examples of exchanges facing the growing threat of cyberattacks.

Mixin Network had to suspend withdrawals and deposits after a $200 million hack in September, and the Exactly Protocol experienced a security breach in August, losing $7.2 million worth of ETH.

This string of attacks shows the need for vigilance and stringent security protocols in the crypto world. While the dust settles, we await a response from Coins.ph, it is essential for all stakeholders in the cryptocurrency space to prioritize security and take steps to mitigate the risk of future breaches.

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]]> Almost Half a Billion XRP worth $336 Million Moved by Ripple, Whales and ODL Platforms https://timestabloid.com/almost-half-a-billion-xrp-worth-336-million-moved-by-ripple-whales-and-odl-platforms/ Wed, 22 Dec 2021 08:24:48 +0000 https://timestabloid.com/?p=1935 According to data released by Whale Alert, in the past 48 hours, almost half a billion XRP have been moved by Ripple, the San Francisco-based cross-border payment firm, and many of its On-Demand Liquidity (ODL) platforms, including an anonymous wallet. Based on current prices, the total amount of XRP shifted was worth around $336 million. […]

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]]> According to data released by Whale Alert, in the past 48 hours, almost half a billion XRP have been moved by Ripple, the San Francisco-based cross-border payment firm, and many of its On-Demand Liquidity (ODL) platforms, including an anonymous wallet.

Based on current prices, the total amount of XRP shifted was worth around $336 million.

Read Also: Crypto Whales Accumulated about 190 Million XRP in the Last Three Months

170 Million XRP Moved by Ripple and ODL platforms

According to the huge crypto transaction tracker, Whale Alert, around 170 million coins, was moved by Ripple and several leading crypto exchanges. These include South Korean Bithumb, as well as Coins.ph based in the Philippines and Mexico-based crypto exchange Bitso.

These three exchanges also operate as Ripple’s ODL platforms for sending low cost and fast payments, using the digital token XRP. Bitso received 20 million XRP from the US-based exchange Bittrex and shifted 17,700,000 coins from one of its wallets to another.

Read Also: Someone Abnormally Transferred 60 Million XRP between Wallets of Various Exchanges

Bithumb sent 72 million XRP between its own wallets. Ripple sent 40 million XRP to its RL18-VN wallet, often used by the payment firm to send XRP to external wallets owned by customers, financial institutions, and crypto exchanges, for selling XRP to cover operational expenses or for enhancing the digital currency’s liquidity.

A total of 20 million XRP tokens from the same wallet belonging to Ripple were transferred to the Coins.ph exchange.

Crypto Whale Transferred 230 Million XRP

The rest of the 400 million XRP was shifted by an owner of an unregistered wallet. The XRP whale shifted a whopping 229,610,300 XRP from his address 3GmhuPLe8PWL4WJbSr8Uaj72o9ed3YETU to rUtSrjgTrten98AYPgJSVTGVY9Qx7Esrxr in a single transaction.

Read Also: Brad Garlinghouse Says the SEC Aided Ethereum to Overtake XRP as Second-Largest Crypto

That is equal to $194,163,040 in fiat. An analytics data platform that deals with XRP, Bithomp, has not provided any data on the owners of these wallets.

On 20th December, it was reported that anonymous whales also moved a whopping 231,110,320 XRP between their wallets.

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