South Korean Blockchain Karaoke Platform Somesing Hit by $11.5 Million Hack

Somesing, a South Korean blockchain-based social karaoke platform, has fallen victim to a major security breach, resulting in a loss of approximately $11.58 million. The exploit occurred on Saturday and involved the theft of 730 million SSX, the platform's native token. This amount comprised both 504 million undistributed SSX tokens, scheduled for release by the end of 2025, and 226 million SSX tokens held by the Somesing foundation and already in circulation.

Somesing has clarified that the hack was an external attack by professional hackers and not linked to any team member. The platform is actively cooperating with the National Police Agency to investigate the incident and has plans to notify Interpol. In collaboration with the Klaytn Foundation and Interpol-affiliated Uppsala Security, Somesing is working to trace the hacker, intending to freeze the stolen assets and pursue legal action once the culprit is identified.

In response to the security breach, major South Korean cryptocurrency exchanges like Upbit, Bithumb, and Coinone have suspended SSX deposits and withdrawals at Somesing's request. These platforms have issued warnings about potential price volatility due to the hack. The SSX token is also traded on HTX and Gate.io, although these exchanges have not issued similar alerts.

Somesing operates on the Klaytn blockchain and rewards users with tokens for uploading karaoke recordings. These tokens are donated by other users who appreciate the singers' performances. The token distribution gives 60% to the singers, 20% to Somesing, and the remainder for copyright fees and community maintenance.

The Block