According to the platform, it is collaborating with local law enforcement to apprehend the hacker and intends to notify Interpol.
The South Korean social karaoke platform Somesing, which uses the blockchain technology, said on Saturday that it had lost 730 million SSX tokens, or $11.58 million, due to an exploit.
The SSX tokens that were compromised comprised 504 million unspent tokens that were expected to be distributed by the end of 2025, as well as 226 million tokens that were owned by the Somesing foundation and were already in circulation, according to the message.
The hacking event has been determined to be unrelated to any member of the SOMESING team. Based on the tactics used, it is believed to have been carried out by professional hackers that specialize in hacking virtual assets.
In response to the hacking incident, the platform has notified the National Police Agency and stated its intention to notify Interpol. Local blockchain organization Klaytn Foundation and Interpol partner business Uppsala Security are also assisting Somesing in locating the attacker. Upon identifying the offender, Somesing intends to take legal action and freeze the assets.
Upbit, Bithumb, and Coinone, three of South Korea’s most prominent cryptocurrency exchanges, have all issued warnings to their customers about the increased price volatility that might result from the security vulnerability and have temporarily disabled the deposit and withdrawal of SSX at Somesing’s request. Even though they haven’t made any such announcements, HTX and Gate.io both list the coin.
Also Read: The Co-Founder of Maker Sold MKR of $4
