Unauthorized transactions were reported online which was processed through saved bank accounts on Google Play store without the user's OTP authorization. In the last two months, there were a couple of complaints registered based on this issue via google support and various complaint registration platforms. Many of the registered complaints claimed that money was transferred to accounts named like Google Services, Google Octro Inc & Google Moonfrog labs. There is no official confirmation so far about this incident. The posts also revealed names of several banks through which the transaction process was completed successfully, without any consent from the account holders. One of the users has posted Google support team’s reply in response to the complaints registered. It was posted in a complaint registration platform. The reply post mentioned that Google has initiated an investigation on this incident on June 1st and all illegally transferred amount will be refunded. Below is the full post: 
Industry experts are on serious discussion based on the issue. Some suggest that it could probably be a major bank breach. But unfortunately, no banks have acknowledged any breach incident as of now. Some of them predicted that interception of the SMS is easily done these days, by which the OTP code could be accessed.
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