Singapore-based stablecoin payments provider Triple-A has reportedly lost over $9.7 million from its hot wallets in a suspected multi-chain exploit. On-chain analysts first noticed unusual fund movements across several blockchains, including Ethereum, Solana, TRON, and TON, with possible activity extending to Polygon and Arbitrum.
The stolen assets were funneled into approximately 5,227 ETH on Ethereum. This consolidation is typical after multi-chain breaches, allowing attackers to simplify asset management by converting various tokens into a single one.
Initial alerts from the analyst Specter estimated the outflow at $9.3 million, but blockchain security firm PeckShield later raised the figure above $9.7 million, suggesting either additional transfers or price changes in Ethereum contributed to the increase.
Scope of the Breach and Triple-A's Response
Triple-A operates as a licensed payment institution authorized in the US, Europe, and Singapore, offering businesses stablecoin payment processing, merchant checkouts, and cross-border settlement services. The company holds a Major Payment Institution license from Singapore's Monetary Authority and recently joined the Circle Payments Network.
Despite the ongoing investigation, Triple-A has not acknowledged the hack publicly, nor confirmed whether any customer funds were compromised. The company utilizes Fireblocks for custody solutions, and no evidence has surfaced indicating Fireblocks was breached.
No verified information has emerged about the attacker’s identity or whether the stolen tokens have been moved to exchanges or mixers after reaching Ethereum. This incident remains a suspected hot wallet breach rather than a confirmed vulnerability in Triple-A's protocol.
Meanwhile, Triple-A has not indicated any suspension of deposit, withdrawal, or cross-chain operations in response to the exploit.
On-chain security incidents like this highlight risks inherent in blockchain payment infrastructure, especially when assets move across multiple networks. Triple-A’s situation draws attention to emerging challenges as crypto payments gain traction globally.
The broader crypto market showed little immediate reaction following the reported exploit.
