Triple-A Suffers Estimated $11.8 Million Loss from Treasury Wallet Breach

Singapore-based crypto payments company Triple-A has confirmed that it suffered an unauthorized access to its treasury wallets on July 25. The breach resulted in estimated losses of $11.8 million, according to blockchain investigator Spectre.

Triple-A stated that client funds were not affected, as they are held separately in trust accounts with safeguarding institutions that were not exposed. However, the company's own digital assets were compromised, and it is working with internal and external cybersecurity experts to investigate the breach and recover the stolen funds.

The incident occurred when an attacker exploited the wallets for over 31 hours, receiving deposits that were immediately swept. The stolen funds were then swapped across multiple blockchain networks, including Ethereum, TRON, Polygon, Arbitrum, Solana, The Open Network, and Bitcoin.