Editing by Nathaniel Cajuday

• Filipino celebrities Ronnie Alonte and Loisa Andalio clarified that they did not lose ₱1 billion worth of cryptocurrency.
• The couple stated they lost 1 billion coins equating to around ₱1 million.

Following reports that celebrity couple Ronnie Alonte and Loisa Andalio lost ₱1 billion in cryptocurrency during a car robbery, the couple clarified that they lost 1 billion crypto coins and not the equivalent in fiat.

“Sa Pilipinas kasi, hindi sila techie. Nakakatuwa nga ho, eh, ‘yung mga nakakaintindi about sa crypto, naiintindihan nila, tumutulong sila, ang ganda ng mga comments nila…Pero ‘yung mga peanut na tao na iba, hindi nila alam, tinatawanan nila kami,” Alonte stated.

[ “We are not that techy in the Philippines. Although I find it amusing that those who understand crypto, they can sympathize and help us out… But those that can not, they are laughing at us.” ]

He then explained that what they lost was their crypto investments–both of them 1 billion coins each– synced in their phones. According to Andalio, the monetary value of those investments only equates to more or less ₱1 million. 

As a lesson learned, if they will invest again, the couple stated that they will now store their crypto investments on their laptop.

The pair were victimized by a Basag Kotse gang in Bacoor, Cavite, last December 1, where their newly opened cafe is located. Currently, the robbers have been identified and are set to be arrested soon.

In a prior interview, Alonte expressed his distress over the stolen crypto investment.

“Pag crypto mahirap kasi once na nawala, wala na talaga. So hindi na maibabalik,” he said.

[ “Once crypto is gone, it’s gone. It really cannot be returned.” ] 

Andalio also shared that they had located their phones through the “Find My Phone” feature in a mall, concluding that they had already been sold.

“Hindi na siya nabubuksan kasi nasa cellphone talaga siya eh. Pag nawala na, kasama na yung value. Feeling ko hindi na nila makukuha kasi may password. iI-report na namin sa bangko pero pag crypto kasi baka wala na kasi,” she shared. 

[ “We can no longer access our crypto since it is just stored in our cellphones; once it is gone, it includes the value. I think they will not retrieve our money because of the password, we can report it (fiat) to the bank, but if it’s crypto then it’s probably gone.” ]

Recently, Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla reiterated the risks of blindly investing in cryptocurrency and reminded the public to remain cautious and always conduct due diligence before engaging, as the central bank is still studying the prospects of digital assets. Prior to this, he also stated that not keen on regulating cryptocurrency and even called it based on a “greater fool theory.” (Read more: BSP Governor: No Plans to Ban Crypto But What Social Good Does It Achieve?)

As of this writing, there is still no specific regulation for digital assets in the Philippines since September, when the BSP and Securities and Exchange Commission (SEC) asked the legislation to draft regulations to manage cryptocurrencies and other digital assets properly. 

This article is published on BitPinas: Clarified: Celebrity Couple Lose $20,000, Not One Billion Pesos, in Crypto Robbery

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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• Source: https://bitpinas.com/cryptocurrency/clarified-celebrity-couple-loses-1-million-worth-crypto/