Singapore-based crypto payments gateway Triple-A has confirmed a hot wallet security breach that led to losses of about $12 million. Blockchain security firm PeckShield and on-chain investigator Specter first flagged unusual outflows on July 24, tracing activity across Ethereum, TRON, Polygon, Arbitrum, Solana and TON. The funds were later consolidated into a single Ethereum address. Triple-A said customer assets were not affected and that the losses were limited to operational funds. The company, founded in 2017, holds a Major Payment Institution license from the Monetary Authority of Singapore and works with Fireblocks for institutional-grade custody services. The incident has again drawn attention to the risks tied to internet-connected hot wallets in real-time settlement operations.
Singapore crypto payments gateway Triple-A has confirmed a security flaw in its hot wallet, with losses totaling about $12 million.
Blockchain security firm PeckShield and on-chain investigator Specter first flagged unusual outflows on July 24. The activity involved six blockchains: Ethereum, TRON, Polygon, Arbitrum, Solana and TON. The funds were ultimately consolidated into a single Ethereum address.
Triple-A was founded in 2017. The company holds a Major Payment Institution license from the Monetary Authority of Singapore, or MAS, and works with Fireblocks to provide institutional-grade custody services.
Triple-A said customer funds were not affected and that the losses were limited to operational funds. CryptoBriefing said the case again exposed the inherent risks of internet-connected hot wallets in real-time settlement scenarios.
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