Over the weekend, South Korean Karaoke service SOMESING suffered a hack that stole hundreds of millions of SSX tokens. This hack has made crypto exchanges in South Korea alert users and take provisionary actions to minimize investors’ risks.
Upbit Alerts Over Security Risks
On January 29, a press release from the largest South Korean crypto exchange Upbit alerted its users of the SSX tokens hack and the following measures to be taken. The exchange warned the community about the potential security risks and the price volatility the token has faced since the attack.
This announcement came after several crypto exchanges, including Bithumb and Coinone, followed SOMESING’s request to suspend SSX token deposits and withdrawals from crypto exchanges.
The press release stated that Upbit has also suspended deposits and withdrawals of the SSX token following the Foundation’s request and explained that the decision is based on the digital asset becoming a ‘cautionary asset’ according t
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