Security Breaches and Stolen Tokens
In an official statement released by Somesing, the platform confirmed that it had experienced a security breach, resulting in the theft of 730 million SSX tokens. The severity of the situation becomes apparent when considering that 504 million of the stolen tokens had not yet been circulated. These tokens were primarily held by the Somesing Foundation and were intended to be introduced into circulation by the end of 2025.
Professional Hackers Suspected
The Somesing team explicitly stated in their announcement that none of their team members were involved in the hacking incident. Instead, they suspect professional hackers who specialize in targeting cryptocurrencies to be behind the breach.
Impact on South Korean Crypto Exchanges
Upon learning of the hack, Somesing promptly requested major South Korean cryptocurrency exchanges, including Upbit, Bithumb, and Coinone, to suspend deposits and withdrawals of SSX tokens. This precautionary measure aims to prevent further unauthorized movement of the stolen tokens and safeguard the interests of users. The incident has directly affected the trading of SSX tokens, causing a 15% drop in their price. This decline in market value highlights the vulnerability of cryptocurrencies to external threats and investors’ swift reactions to security breaches.
Ongoing Investigation and Recovery Efforts
In response to this devastating hack, Somesing has initiated a comprehensive investigation in collaboration with cybersecurity experts and relevant authorities. Their primary objectives are to trace the stolen SSX tokens and identify the perpetrators. In light of the breach, Somesing is taking proactive measures to strengthen its security infrastructure and prevent future incidents.