Triple-A, a stablecoin payments company, has confirmed a breach of its treasury wallet, resulting in losses of $11.8M. According to the company, client funds were not affected by the breach.
The financial impact of the breach will be absorbed through Triple-A's treasury reserves, ensuring that clients will not be affected. This is based on reporting from CoinTelegraph.
As a stablecoin payments company, Triple-A is involved in facilitating transactions using stablecoins, which are designed to maintain a stable value relative to fiat currencies. However, the specifics of the breach and the circumstances surrounding it have not been detailed.