Coins.ph Warns of Digital Fraud After 84% of Filipino Adults Encountered Scams

Coins.ph, a Philippine digital asset exchange and mobile wallet operator, urged users to guard against digital fraud after 84% of Filipino adults encountered a scam in the past year.

That share rose from 77%. Estimated annual scam losses reached ₱121.8 billion, while reported e-wallet use to move stolen money rose from 34% to 73% in one year.

“Most scams don’t break into an account. They convince the account owner to open the door,” said Amira Alawi, Coins.ph’s global marketing director.

Coins.ph outlined four common approaches. Phishing messages, emails or websites imitate legitimate services to capture passwords and one-time PINs (OTPs). Fake support agents on social media or messaging apps may request account details or direct users to transfer funds. Investment schemes promote unusually high or guaranteed returns to attract deposits. Task and employment offers may require a payment to unlock online work, complete tasks or withdraw supposed earnings; some offer payment in cryptocurrency.

The exchange urged users not to share OTPs, passwords or recovery phrases and to transact through official channels. It also warned against lending, renting or selling verified e-wallet or bank accounts for use in scams. Republic Act No. 12010, the Anti-Financial Account Scamming Act, carries legal consequences for financial accounts used in scams or other prohibited activity. Users may alert Coins.ph support or relevant authorities to suspected fraud.

The U.S. figure covers a narrower category: crypto investment fraud caused $7.2 billion in reported U.S. losses in 2025, the largest loss total among reported cybercrime categories. That figure is not directly comparable with the Philippines’ broader annual scam-loss estimate.

Coins.ph is also sponsoring the 14th National Fraud Conference of the Association of Certified Fraud Examiners Philippines Chapter, where fraud examiners and compliance professionals discuss fraud prevention.