Ten unregistered cryptocurrency exchanges have been blocked by PLDT Inc. and its wireless arm Smart Communications, Inc. after the Securities and Exchange Commission (SEC) flagged them for operating without licenses.
“We work closely with government regulators to protect Filipinos from potential threats,” PLDT and Smart FVP and Group Head of Public Engagement Roby Alampay said on Monday.
“Upon receipt of the order from the National Telecommunications Commission, we restricted access to the identified websites. These web addresses are no longer accessible on our network," he added.
Earlier this month, the SEC issued an advisory warning the public against investing in OKX, Bybit, Mexc, Kucoin, Bitget, Phemex, Coinex, Bitmart, Poloniex, and Kraken.
The Commission said these entities failed to register under SEC Memorandum Circular No. 4, Series of 2025, and SEC Memorandum Circular No. 5, Series of 2025.
“Their actions are unauthorized and expose Filipino investors to significant risk, including total loss of funds, no legal recourse, and exposure to fraud, market manipulation, and identity theft,” the SEC said, adding that unregistered platforms “may be exploited for money laundering and terrorist financing.”
PLDT and Smart committed to continue investing in cybersecurity to protect customers from fraud and scams.
In the first half of the year, their Cyber Security Operations Group blocked more than a hundred billion attempts to access malicious domains.