Triple-A Treasury-Wallet Breach Results in $11.8M Loss

Treasury-wallet breach at Singapore-based stablecoin payments firm Triple-A has resulted in losses of approximately $11.8 million, according to onchain investigator Specter.

The unauthorized access was detected by Triple-A on Saturday and the company temporarily placed certain services into maintenance mode for about three hours while it secured the affected infrastructure.

Client funds were not affected as they are kept separately in trust accounts with safeguarding institutions, said Triple-A. The financial impact is limited to specific operational accounts, which will be absorbed through treasury reserves.

Triple-A stated that all services have been restored and transactions and settlements are processing normally. It added that the company is working with cybersecurity specialists, blockchain forensics firms, and authorities to investigate the incident and support recovery efforts.