The cryptocurrency wallet service provider Coins.ph is suspected of being attacked by a vulnerability, resulting in a loss of nearly 12.2 million XRP

ChainCatcher news, according to The Block, the Philippines-based crypto wallet provider Coins.ph seems to have suffered a vulnerability attack on Tuesday, resulting in the loss of over 12 million XRP tokens (approximately 6 million USD).

An anonymous source revealed, "I was helping them deal with this matter at the time, so I can confirm this security incident." According to the blockchain explorer XRP Scan, within about 30 minutes, a so-called hacker exchanged 999,999.999 XRP 13 times, and also exchanged another batch of 200,000 XRP.

After obtaining nearly 12.2 million XRP tokens, the hacker subsequently sent these coins through OKX, the European cryptocurrency exchange fiat trading platform WhiteBIT, the cross-chain exchange OrbitBridge, the cryptocurrency exchange SimpleSwap, two non-custodial exchanges ChangeNOW and Fixed Float, and other destinations.