AI · CryptoSlate
Coins.ph users face app lockout as central bank intervenes
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
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Philippine crypto platform Coins.ph said users’ funds were safe and that it was working to restore affected services in an Oct. 14 statement.
Key facts
- Philippine crypto platform Coins.ph said users’ funds were safe and that it was working to restore affected services in an Oct. 14 statement
- The Oct. 14 statement expects full restoration “soon,” but does not identify the affected services, say when the disruption began, or provide a calendar date for their return
- The response follows news reports about offshore gaming transactions and the company’s engagement with the Bangko Sentral ng Pilipinas (BSP), the Philippine central bank
- Also known as "Akiba," Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate
Summary
01 The platform says customer funds are safe and that it is working to restore services after reports about its operations. 02 The company says its controls exclude offshore gambling operators and that it continues to operate as a BSP-licensed institution. 03 Its Oct. 14 statement gives no restoration date, while a separate advisory leaves regulator-set compliance timelines undisclosed. The response follows news reports about offshore gaming transactions and the company’s engagement with the Bangko Sentral ng Pilipinas (BSP), the Philippine central bank.