More than $30 million of the $81 million heisted by cyber crooks from the central bank of Bangladesh was handed over in thick wads of cash to an unidentified ethnic Chinese man in Manilla.
The cash deliveries over several days from a foreign exchange broker were made up of 600 million pesos ($A17.15 million) and around $US18 million ($A23.99 million), which altogether would have meant a haul of at least 780,000 banknotes, Reuters reports.
"Obviously this is not one bang, it was done in instalments," Teofisto Guingona, head of the Philippine Senate's anti-corruption committee, told Reuters ahead of a panel hearing on the case that is due to open later on Tuesday.
A large portion of the stolen funds was also diverted to two casinos in the Philippines.
The incident has already claimed the head of the central bank, who has resigned after it emerged that he had failed to report the crime to the country's finance minister.
The hackers used malware to raid the bank's computer servers, and would have made off with $951 million but for a mis-spelling in one of the instructions that raised red flags.