E-wallet giant GCash has shut down more than four million accounts because they were used for fraudulent and risky activities that put the app’s trust network at risk.
Oscar Reyes Jr., the president and CEO of G-Xchange, told reporters at a cybersecurity conference that the e-wallet would block more than four million users between January 2022 and June 2023.
Reyes said that these GCash accounts were tied to bad things, like digital fraud, and that they should not be able to use the app for safety and security reasons.
Over the course of the year, GCash blocked 185 sites that, when visited, stole a person’s GCash information. Reyes said that as GCash gets more users, it will keep putting up more protection walls.
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