On Saturday, many GCash users reported unauthorized transactions in their accounts, causing widespread concern and frustration. These users saw unexpected deductions of ₱1,000 or ₱2,000, often in quick succession, from their GCash wallets. The funds appeared to have been transferred to phone numbers that users did not recognize, sparking fears of a security breach in GCash's systems.

Affected users took to social media to voice their complaints, share screenshots of the transactions, and tag GCash's customer support for assistance. Many expressed confusion and anxiety as the transfers occurred without notification or authorization, leaving their wallets unexpectedly depleted. The incident affected a broad base of customers, drawing attention to the scale of the problem.

Eight of my friends reached out to me, worried about their accounts. However, as we discussed the issue, it became clear that six had fallen victim to phishing attacks rather than an actual system hack on GCash's end. Each of these six had unwittingly provided sensitive information—such as account credentials or one-time passcodes (OTPs)—to fraudulent websites or individuals posing as GCash representatives. Two of them, however, did not click anything or link their accounts to gambling apps. I told them to report to GCash immediately.

After receiving reports from my friends, I shared a post on social media to address the growing concern. Here's what I wrote:

"Social media in the Philippines is buzzing with claims that GCash may have been hacked. After examining the available information shared by friends, it appears more likely that this is a phishing attack rather than a direct breach. However, I'm still awaiting further data, which could alter my opinion of the situation. Remember, if your OS is updated if you don't click links sent to you, and if you don't engage in online gambling (based on the information I received), you are safe."

This FB post aims to curb speculation and remind users to prioritize digital security basics. It highlights that staying vigilant—especially avoiding unverified links and ensuring system updates—can effectively protect users from such threats. With more data coming in, I wanted to emphasize caution over panic, helping users better understand that the situation might not be as dire as initially thought if they adhere to basic security practices.

In response, GCash issued a statement clarifying the situation. The company attributed the unauthorized deductions to errors in an ongoing system reconciliation process, not a security breach or hack. GCash reassured users that this incident was isolated to a small number of accounts and that all customer funds remained secure. The statement said, "GCash has identified and reached out to affected accounts. Wallet adjustments are ongoing." True enough, in less than 24 hours, missing funds were returned to the ewallet app of those affected. Two of my eight friends who contacted me got their money back.

Technical glitches happen from time to time, and what is important is that GCash accepts responsibility and works to return the affected ewallets. However, it is critical to note that not all unauthorized transactions are eligible for a refund. If GCash's investigation determines that you were a victim of phishing and the transaction is not part of a "system reconciliation," you will not receive a refund.