Triple-A Hot Wallet Losses Rise to $11.8 Million as New Deposits Continue to Be Drained
Onchain investigator Specter reported that losses from compromised hot wallets linked to Singapore-based payments firm Triple-A have climbed to about $11.8 million. This is up from an earlier estimate of $9.3 million on Friday.
Initial Detection and Growing Losses
Specter first flagged the drain at 5:18 p.m. ET on Friday. Losses then stood at more than $9.3 million. The attacker swapped the assets and bridged them to Ethereum.
PeckShield, citing Specter, later raised the figure to over $9.7 million. By Sunday, Specter said another $1.8 million had been taken across the Bitcoin and TRON networks. New deposits kept arriving at the affected wallets and were still being drained 31 hours after the first large outflows.
Bitcoin had not been named in earlier reports. Previous alerts from Specter and PeckShield covered Ethereum, TRON, Polygon, Arbitrum, Solana, and The Open Network.
Where the Funds Went
The stolen proceeds were pooled at a single Ethereum address. A screenshot in PeckShield’s alert showed the address holding 5,226.67 ETH, worth about $9.73 million at the time. It listed eight incoming transfers between 20:35 UTC Friday and 03:03 UTC Saturday. The largest single transfer was roughly 4,140 ETH.
Triple-A’s Response
Triple-A addressed the reports on X on Saturday. The company stated: “We’re actively investigating the situation and will share a formal update once ready. We confirm that customer funds are not impacted.”
Triple-A has not yet explained how the wallets were accessed. It has also not published a formal update in its newsroom. The latest post there remains a July 15 announcement about in-principle approval from Dubai’s Virtual Assets Regulatory Authority for broker-dealer services.
Broader Context of Recent Crypto Exploits
The incident follows two other large crypto exploits disclosed the same week. AFX Trade, a protocol on Arbitrum, lost about $24.15 million in USDC through its custody bridge. The Verus-Ethereum bridge lost roughly $7.54 million on the same day—its second breach since May.
