Triple-A Suffers $11.8 Million Stablecoin Theft in Singapore Breach

Singapore-based stablecoin payments company Triple-A suffered a security breach on Saturday (July 25), which affected its treasury assets. The incident was contained and services were restored to normal after three hours, with client funds remaining unaffected.

Triple-A emphasized that it does not provide digital asset custody for clients, who hold their funds in separate trust accounts maintained by safeguarding institutions. Although the exact amount stolen is unknown, an estimate from onchain investigator Specter suggests around $11.8 million was taken.

The company is working with internal and external cybersecurity experts to investigate the incident and support recovery efforts. This breach is part of a recent series of incidents at digital asset companies, including WEMIX's stablecoin compromise and SecondFi's attack that stole $2.4 million from users.