Somesing, a South Korean blockchain-based social karaoke platform, was attacked on Saturday and lost 730 million of its SSX tokens, worth $11.58 million. the announcement.
The hacked amount includes 504 million undistributed SSX tokens scheduled to be distributed by the end of 2025 and 226 million SSX held by the Something Foundation and already in circulation, the notice said.
Somesing said, “It has been confirmed that the hacking incident is not related to Somesing team members, and based on the method, it is presumed that it was committed by a professional hacker who specializes in hacking virtual assets.”
The platform said it had reported the hacking incident to the National Police Agency for investigation and would notify Interpol. Somesing is tracking the attacker with the help of local blockchain company Klaytn Foundation and Interpol partner Uppsala Security. Somesing said it plans to freeze assets and take legal action once the perpetrators are identified.
Major domestic cryptocurrency exchanges, including Upbit, Bithumb, and Coinone, suspended SSX deposits and withdrawals at the request of Something. Warning to user According to their notice, the security breach led to increased price volatility. The token is also listed on HTX and Gate.io, which have not posted such a warning.
Running on the Klaytn blockchain, Somesing incentivizes users to upload karaoke recordings by rewarding them with tokens. These rewards are funded by other users donating tokens to their favorite karaoke singers. Singers will receive 60% of donated tokens, 20% will go to Somesing and the remainder will be allocated to copyright fees and community maintenance.
Somesing did not immediately respond to The Block’s request for further comment.
Cybersecurity remains a major concern in the cryptocurrency industry. $81.5 million hack Earlier this month on the Klaytn connectivity protocol Orbit Bridge. Despite this incident, the total trading volume was Cryptocurrency hacking in 2023 It has decreased by more than 50% compared to 2022.
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