Singapore Crypto Payments Gateway Hit by $12M Security Breach
Triple-A, a licensed crypto payments gateway in Singapore, is dealing with a security breach that drained an estimated $12M from its hot wallets across multiple blockchains.
The incident was first flagged by blockchain analysts on July 24 and marks another reminder of the risks associated with keeping assets in internet-connected wallets.
According to blockchain security firm PeckShield, suspicious outflows were detected from Triple-A's wallets on at least six separate chains: Ethereum, TRON, Polygon, Arbitrum, Solana, and TON. The drained funds were consolidated into a single Ethereum address holding roughly 5,227 ETH.
Triple-A confirmed it is investigating the incident and stated that customer funds are not affected. However, the company's hot wallets, which contain operational or treasury funds rather than client deposits, appear to have been compromised.