Triple-A Hot Wallet Losses Reach $11.8 Million Amid Ongoing Sweeps
Triple-A is investigating an incident involving hot wallet losses that have reportedly climbed to $11.8 million.
Losses from Triple-A's hot wallet have reportedly increased to $11.8 million, with new deposits continuing to be swept, as reported by The Block. The company has stated it is investigating the situation.
Despite the ongoing incident, Triple-A has indicated that customer funds are not affected. However, the company has not yet provided a comprehensive public statement regarding the details of the incident.
The continued sweeping of new deposits suggests an unresolved vulnerability within the hot wallet system. The total reported losses highlight the scale of the security challenge faced by the platform.
Original reporting
This brief condenses the reporting linked above and adds analysis based on NomadCard's live fee dataset. It is not financial advice. Corrections: if you spot an error, reach us via the contact page.