The South Korean karaoke blockchain platform Somesing has fallen victim to a severe hack, resulting in the theft of 730 million SSX tokens worth a staggering $11.58 million. The incident occurred on January 27th, and the stolen tokens included 504 million unallocated tokens that were slated for release by the end of 2025 and 226 million SSX held in the platform’s reserve.
In a blog post addressing the incident, the Somesing team emphasized that the hack was not an internal operation and is believed to be the work of skilled hackers specializing in virtual asset theft. The company has promptly initiated a comprehensive investigation with the assistance of the police and cybersecurity experts from the Klaytn Foundation and Uppsala Security, a partner of Interpol. Major South Korean exchanges have responded by suspending SSX deposits and withdrawals until further notice.
This hacking incident comes on the heels of another recent attack on the gaming platform GAMEE, which was struck on January 22nd. Unknown individuals breached the platform’s token contracts, siphoning off a total of $7 million in GMEE tokens. The ensuing news triggered a sharp decline in GMEE’s value, with the token plummeting by nearly 50%.
The investigation into the GAMEE attack revealed that the hackers gained unauthorized access to the platform’s GitLab service, a repository management system. By exploiting this vulnerability, they were able to manipulate the token contracts and execute the theft.
These recent hacking incidents highlight the persistent threat posed by cybercriminals to the blockchain industry. As the technology gains wider adoption and attracts more valuable assets, it becomes an increasingly attractive target for sophisticated hackers. It is crucial for blockchain platforms to prioritize robust security measures and collaborate closely with law enforcement agencies and cybersecurity experts to combat these threats.
