Coins.ph: what the sources say

Regulation, reserves, fees

Reserves note: No proof-of-reserves page found in site navigation or footer (checked footer of fees and legal pages); not searched further.

Incidents and regulator actions found

Security incidents

• 2023-10 Per Philippine prosecutors (reported by ForkLog), two Russian consultants of the platform operator allegedly took about 12.2M XRP (about USD 5.8M) from Coins.ph exchange funds using internal network knowledge; Coins.ph said only insiders could have done it. Outcome: Philippine DOJ charged two individuals under the Cybercrime Prevention Act; WhiteBIT blocked at least 445,000 tokens at Coins.ph's request. Source does not describe customer impact. source
• 2023-11-13 Coins.ph emailed affected customers about unauthorized access to personal data (name, contact details, date of birth, hashed passwords, ID) of a small subset of users. Outcome: Company states no user assets were compromised; passwords and keys rotated (reported by BitPinas). source

Regulator and court actions

• 2024-07-12 Department of Justice, Philippines: Reported by ForkLog: DOJ charged two Russian nationals (23 and 3 counts) under the Cybercrime Prevention Act in connection with the 2023 XRP theft from Coins.ph. Defendants are individuals, not the exchange. Outcome: Bail set at PHP 120,000 per count; trial outcome not verified. PRESS OR OTHER SOURCE · official text not found source

What we could not verify

Incidents/legal actions not checked (web search budget exhausted); empty lists are not proof of none. SEC Philippines status, proof of reserves, Italy acceptance, OAM not verified. | Customer impact of the 2023 XRP theft and outcome of the criminal case not verified; no regulator action against Coins.ph found.

Facts are as of 9 Oct 2026. We ran a limited number of searches per exchange, so an empty list is not proof that nothing happened. We did not check the Italian OAM register. Items from press or third parties are reports, not findings by an authority. If something here is wrong or out of date, send a correction with a source: corrections policy. Education only, not investment advice.

Sources

1. [1] Coins.ph fee rates accessed 2026-10-09
2. [2] Coins.ph User Agreement (effective 2026-04-16) accessed 2026-10-09
3. [3] Newsbytes PH: Coins.ph granted BSP licence (2022-12-13) accessed 2026-10-09
4. [4] AAP/Cision: Coins in-principle VASP approvals (2023-03) accessed 2026-10-09
5. [5] Coins Pro open API exchangeInfo accessed 2026-10-09
6. [6] ESMA interim MiCA register, CASP file accessed 2026-10-09
7. [7] ForkLog: Two Russians charged in insider hack of Coins.ph accessed 2026-10-09
8. [8] BitPinas: Coins.ph data breach accessed 2026-10-09