Triple-A Treasury Wallets Breached, $11.8 Million Drained

Singapore-based payments firm Triple-A has confirmed an unauthorized breach of its treasury wallets resulted in losses of $11.8 million, with new deposits still being drained over 31 hours after the initial outflows.

The company detected the breach on July 26 and took certain services offline for three hours to secure the compromised infrastructure.

Triple-A holds a major payment institution license from the Monetary Authority of Singapore and processes stablecoin payments for merchants that settle in local currency.

The firm is working with cybersecurity specialists, blockchain forensics firms, and the Singapore Police Force to investigate the incident and recover the stolen assets.