Singapore Stablecoin Firm Loses $11.8M in Cryptocurrency Hack

Singapore-based stablecoin payments company Triple-A has suffered a significant blow after hackers stole approximately $11.8 million from its treasury wallets.

The breach, which was detected on July 25, allowed attackers to move funds across multiple blockchain networks, including Ethereum, TRON, Polygon, Arbitrum, Solana, and TON.

Triple-A stressed that customer funds were not compromised as they are held separately in safeguarded trust accounts managed by independent financial institutions.

The company has launched an investigation alongside internal cybersecurity teams, blockchain forensic specialists, and law enforcement agencies, including the Singapore Police Force.