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Triple-A hack losses widen to $11.8 million, Specter says

Triple-A hack losses widen to $11.8 million, Specter says

Singapore payments firm said unauthorized access hit treasury wallets, not client funds, while on-chain data showed about 5,280 ETH consolidated in one address after cross-chain draining.

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Fact Check
All key claim elements are corroborated. The Block report attributes the ~$11.8 million figure (up from $9.3M initial) to onchain investigator Specter and confirms funds were bridged to Ethereum. Triple-A's official newsroom statement confirms the breach affected only its own treasury/company-owned assets while client funds in separate trust accounts were untouched, and that losses are fully absorbed from reserves. Cointelegraph independently corroborates. Only minor framing note: 'Specter says' precisely matches the loss-estimate source, while the not-client-funds/reserves points are from Triple-A itself.
Summary

Triple-A said unauthorized access to treasury wallets led to the loss of about $11.8 million in company-owned digital assets, matching the higher figure tracked by on-chain researcher Specter after earlier estimates of $9.3 million and then $9.7 million. The Singapore-based payments firm said client funds were unaffected because customer assets are segregated from company holdings and it does not custody digital assets for clients, while the losses were confined to operational accounts and will be absorbed by treasury reserves. On-chain investigators said assets from Ethereum, Solana, TRON, The Open Network, Polygon, Arbitrum and Bitcoin were swapped, bridged and consolidated on Ethereum, with roughly 5,226.67 ETH, and separately about 5,280 ETH, observed in a single destination address. Triple-A said it identified the incident on July 25 and paused certain services for about three hours, but Specter said fresh deposits continued to reach compromised wallets and be swept for about 31 hours after the initial alert.

Terms & Concepts
  • treasury wallets: Company-controlled crypto wallets used for operational liquidity and internal funds rather than customer assets.
  • blockchain forensics: The tracing and analysis of onchain transactions to investigate hacks and follow stolen assets.
  • on-chain data: Public records of blockchain transactions.