Quick Take
Onchain investigator Specter said losses from a drain of hot wallets linked to Singapore payments firm Triple-A have reached about $11.8 million, up from an initial estimate of $9.3 million on Friday.
Triple-A said it is investigating and that customer funds are not affected, though it has not disclosed how the wallets were accessed.
https://www.theblock.co/post/409678/triple-a-hot-wallet-losses-climb-to-11-8-million-as-new-deposits-keep-being-swept-reportThe additional $2.5M in losses gradually stemmed from the team's delayed to aware that their system had been hacked, leaving the platform's deposit feature open for quite some time. Although they finally released an official announcement regarding the incident today, they admitted to identifying suspicious activity two days ago. This is a rather confusing admission, suggesting they deliberately allowed the additional losses to continue. Another oddity is their tweet, "Client funds were not affected." How could hot wallets not be linked to client deposits?
They seem to be hiding too much.
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