Treasury Hack Drains $11.8M as Client Assets Remain Untouched

Woofun AI reports that Triple-A, a Singapore-based stablecoin payments firm, has confirmed a security breach involving its treasury wallets, resulting in the loss of company-owned digital assets. Crucially, the incident did not compromise client funds, which remain secure due to the firm’s structural separation of assets.

The unauthorized access was detected on Saturday, prompting the company to place certain services into maintenance mode for approximately three hours to secure the affected infrastructure. While Triple-A initially withheld specific figures, on-chain investigator Specter estimated the losses at $11.8 million. The financial impact was confined to specific operational accounts, with the firm stating that these losses would be absorbed through its treasury reserves.

Structurally, the breach did not affect customer assets because Triple-A does not custody digital assets on behalf of clients. Instead, client funds are kept separately in trust accounts with safeguarding institutions. Per Woofun AI, this segregation ensured that all services were restored, and transactions and settlements resumed processing normally after the brief interruption.

The firm is now collaborating with cybersecurity specialists, blockchain forensics firms, and authorities, including the Singapore Police Force, to investigate the incident. These efforts aim to trace the stolen assets and support recovery operations. This marks a significant test of the firm’s resilience and its commitment to asset protection.