A number of BDO customers have reported that their bank accounts have been hacked, with cyber criminals making unauthorized transfers to UnionBank accounts, according to social media posts.
Hackers siphoned money from BDO accounts and transferred it to a UnionBank account under a false name, according to a Manila Bulletin report, and used the funds to buy PHP 5 million worth of Bitcoin from a cryptocurrency market on December 11.
BDO has a daily limit of PHP 50,000, while UnionBank allows up to PHP 500,000 in transfers per day.
The Manila Bulletin also spoke with several victims, who stated that they did not click on any malicious links, did not receive any SMS prompts or OTPs, and that the transfers exceeded BDO’s daily limit. They claim that BDO has committed a security breach.
BDO has yet to issue a statement regarding the incident but has recently advised users to change their account passwords.