Singapore Stablecoin Firm Hit by Wallet Breach: $1.7M in Ethereum Transferred
Triple-A, a Singapore-based stablecoin payments firm, discovered an unauthorized access to its wallets holding digital assets on July 25. The company said it identified the incident and took immediate action to secure the affected infrastructure.
Services were placed in maintenance mode for approximately three hours while security checks were run, but all services have since been restored and transactions are processing normally.
The financial impact was limited to specific operational accounts and was fully absorbed from treasury reserves. The company said it does not custody digital assets for clients and holds client funds separately in trust accounts with safeguarding institutions that were not exposed.
On-chain analysis shows 12 inbound transfers totaling 5,287.08568411 ETH into a single address on July 24 and 25. However, the company has not disclosed the size of its treasury loss or explained how the wallets were accessed.