Some GCash account holders have recently been attacked by hackers attempting to transfer money to two bank accounts suspected of being money mule accounts. Money mules are individuals who knowingly or unknowingly participate in transferring illegally obtained funds on behalf of cybercriminals. GCash believes that the cybercriminals gained access to compromised accounts through phishing. The company's cybersecurity team flagged the suspicious transactions heading to the two bank accounts, while East West Bank's cybersecurity team detected irregular activity and immediately blocked access to the account. In response to the attempted hack, GCash suspended its service to conduct an investigation. The company found no unauthorized access to its platform, assuring millions of Filipinos who rely on GCash that their data and funds are secure. GCash has issued a statement addressing the situation: 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. Any deduction from a GCash account will be adjusted before 3pm today. We wish to further assure the customers that their funds remain safe and secure. We would also like to remind customers never to share their OTP and MPIN. The company also urged its users to remain vigilant against phishing scams, not disclose confidential information or passwords, and to report suspicious activity immediately. This hacking attempt highlights the increasing sophistication of cybercriminals and underscores the need for individuals to take necessary steps to protect themselves against these attacks, especially phishing. By being proactive and vigilant, users can help prevent cyberattacks and safeguard their personal and financial information. East West Bank (EWB) has also released a media statement acknowledging the unauthorized GCash transfers: EastWest Bank (EWB) has been made aware of news reports regarding unauthorized cash transfers from GCash into allegedly certain EWB account. EWB immediately acted on these reports and initiated its own internal investigation. Rest assured that we are cooperating with authorities and other institutions involved in the said report. We are working towards the immediate resolution of this matter. "EWB immediately acted on these reports and initiated its own internal investigation. Rest assured that we are cooperating with authorities and other institutions involved in the said report. We are working towards the immediate resolution of this matter."