Somesing, a blockchain-based social karaoke platform in South Korea, suffered an exploit on Saturday and lost 730 million of its native token SSX, which amounts to $11.58 million, according to its announcement. 

The hacked amount included 504 million undistributed SSX tokens, which were planned for circulation by the end of 2025, and 226 million SSX that the Somesing foundation held and were already part of its current circulation, the notice said. 

“It has been confirmed that the hacking incident is not related to any member of the SOMESING team, and it is assumed to have been conducted by the professional hacker(s) specializing in hacking virtual assets considering the methods,” Somesing noted.

The platform has reported to the National Police Agency for an investigation …