$11.8M Treasury Wallet Breach Hits Stablecoin Payments Firm Triple-A
Singapore-based Stablecoin payments firm Triple-A has confirmed that unauthorized access to its treasury wallets resulted in significant losses. According to onchain investigator Specter, the company lost around $11.8 million due to the breach.
The incident was detected by Triple-A on Saturday and temporary maintenance mode was implemented for about three hours while the affected infrastructure was secured. The company assured that client funds were not compromised as they are kept separately in trust accounts with safeguarding institutions.
Triple-A stated that the financial impact was limited to specific operational accounts, which will be absorbed through their treasury reserves. The company is currently working with cybersecurity specialists, blockchain forensics firms, and authorities, including the Singapore Police Force, to investigate the incident and support recovery efforts.