Triple-A Treasury Wallet Breach Exposes Estimated $11.8M Loss

Triple-A, a Singapore-based stablecoin payments firm, has confirmed a breach of its treasury wallets resulting in losses estimated at $11.8 million. The company detected unauthorized access on Saturday and promptly secured its affected infrastructure by placing certain services into maintenance mode for about three hours.

Triple-A emphasized that client funds were not compromised as it does not custody digital assets on behalf of customers, keeping them separately in trust accounts with safeguarding institutions. The financial impact was limited to specific operational accounts and would be absorbed through the company's treasury reserves.

The incident is currently under investigation by Triple-A in collaboration with cybersecurity specialists, blockchain forensics firms, and authorities including the Singapore Police Force. Specter, an onchain investigator, had previously estimated the losses at approximately $11.8 million.