Triple-A confirms treasury-wallet breach after losses reach $11.8M
The stablecoin payments company said client funds were unaffected and that the financial impact would be absorbed through its treasury reserves.
Stablecoin payments firm Triple-A confirmed that unauthorized access to its treasury wallets resulted in the loss of company-owned digital assets.
On Monday, the Singapore-based company said it detected the unauthorized access on Saturday and temporarily placed certain services into maintenance mode for about three hours while it secured the affected infrastructure. Triple-A said client funds were not affected because it does not custody digital assets on behalf of customers and keeps client funds separately in trust accounts with safeguarding institutions.
Triple-A did not disclose the amount lost or explain how the wallets were compromised. Onchain investigator Specter previously estimated the losses at about $11.8 million.