The stablecoin payments company Triple-A has confirmed that a security breach involving unauthorized access to its treasury wallets led to the loss of digital assets owned by the firm.

In a statement on Monday, the Singapore-based firm said it discovered the intrusion on Saturday. In response, Triple-A put certain services into maintenance mode for approximately three hours to secure the compromised infrastructure.

While Triple-A did not specify how the wallets were breached or announce the total value of the assets lost, on-chain investigator Specter has estimated the losses to be around $11.8 million. According to the company, the financial damage is contained to particular operational accounts, and it plans to absorb the full cost of the loss using its own treasury reserves.

Triple-A emphasized that no client funds were impacted by the incident. This is because the company does not hold digital assets for its customers; instead, client funds are maintained separately in trust accounts managed by safeguarding institutions.

The firm added that all of its services have since been fully restored, with transactions and settlements now processing normally. To address the breach, Triple-A is collaborating with cybersecurity specialists, blockchain forensics firms, and law enforcement agencies, including the Singapore Police Force. This joint effort is focused on thoroughly investigating the incident, tracing the stolen assets, and supporting all recovery initiatives.