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Why is Garena closing PH office and operations?

Up to the writing of this article, there was no clear reason as to why Garena main headquarters in Singapore decided to close down Garena PH operations.  There are various speculations but searching online we might link one valid reason that leads to this decision.

Why is Garena PH closing operations?

We first announced the news about Garena PH closing down through an earlier article, "Garena Closes Down PH Office." This is when we first heard about the news and was in disbelief.  Today we search again for an update.

On a Reddit post, there was an official statement from Garena which narrates about a malicious script inserted into the League of Legends client which turns computers into a cryptocurrency mining operation.

On July 9, 2:16 PM GMT+8, there was an unauthorized modification of the League of Legends PH client lobby where a certain javascript code was inserted. This code performs blockchain mining on affected computers, which consumes CPU resources from these computers. Apart from increased CPU usage, extensive analysis from our security engineers has determined that there is no other impact on affected computers. At July 11, 4:15 AM GMT+8, our security engineers have removed this javascript code and ensure that all users, including those who were previously affected, will no longer encounter this issue.  We treat security matters with utmost priority and sincerely apologize for this incident, and for the inconvenience you have experienced.- Reddit Post
This same announcement is posted on the LoL official Facebook page.

Could this be the reason why Garena SG decided to close down Garena PH operations?

GGWPTECH in its article seems to confirm this since a former employee states that the crypto mining javascript insertion might have been the culprit.

That fu***ing started with that crypto fiasco from LoL - GGWPTECH interview

Lack of Official Announcement from Garena

Garena PH nor the main Garena website and HQ in Singapore has no official statement as to this issue. The news blackout seems to be something that can either mean there is no finality to the closing of the PH office or the official statement is carefully being worded in order to prevent any possible lawsuit and penalty.

Announcing a data breach is mandatory under Republic Act 10173 known as the Data Privacy Act of 2012.  Their failure to disclose might give them certain penalties and even imprisonment.

We are hoping that Garena will soon have an official statement as to why Garena PH is closing down.

What do you think is the real reason behind this or are they really closing down?

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