In an astonishing turn of events, South Korea’s beloved blockchain-based karaoke app, Somesing, faced a high-tech heist this weekend. Cyber-thieves swiped a staggering 730 million of its native SSX tokens, translating to a jaw-dropping $11.58 million loss. This daring digital raid marks a new chapter in the escalating saga of crypto-security breaches.
Somesing, celebrated for revolutionizing karaoke by rewarding songbirds with crypto, found itself singing the blues when hackers infiltrated its vaults. The loot? A hefty mix of 504 million yet-to-be-released SSX tokens, earmarked for release by 2025, and 226 million tokens from the Somesing foundation’s current stash.
In a plot twist worthy of a thriller, Somesing confirmed the breach was the handiwork of external pro hackers, not an inside job. This cyber-chorus of criminality showcased sophisticated virtual asset hacking skills.
Taking swift action, Somesing has teamed up with the National Police Agency and sounded the alarm with Interpol. In a tech-savvy manhunt, the platform is collaborating with local blockchain guru Klaytn Foundation and Uppsala Security, an Interpol ally, to track down the digital desperados. Their plan? Freeze the stolen assets and launch a legal counterattack once the culprits are unmasked.
In a ripple effect, major South Korean crypto exchanges, including Upbit, Bithumb, and Coinone, have slammed the brakes on SSX transactions at Somesing’s behest. This cautionary move aims to shield users from the turbulence of price volatility triggered by the security breach. Meanwhile, other exchanges like HTX and Gate.io are yet to issue similar alerts.
At its core, Somesing is a platform where karaoke enthusiasts can belt out their favorite tunes and get rewarded in tokens. These tokens, funded by other users, are split among the singers, Somesing, and copyright and community maintenance costs. Despite reaching out, Somesing has kept mum on further comments post-heist.
This cyber shockwave resonates in the wake of the colossal $81.5 million heist at Klaytn-linked protocol Orbit Bridge earlier this month. Yet, in a reassuring note, 2023 has witnessed a more than 50% plummet in crypto heists compared to the previous year, hinting at a stronger, more resilient crypto fortress in the making.
