Thai SEC accuses Bitkub executives of concealing $50 million hacking loss, files criminal complaint
2026-07-28 23:41
Odaily Planet Daily News: The Securities and Exchange Commission (SEC) of Thailand has filed a criminal complaint against crypto exchange Bitkub Online and two former directors, Sakolkorn Sakavee and Thaweesap Rawan, alleging that they submitted false financial reports between May and October 2021. The case has been referred to the Economic Crime Suppression Division (ECD) for investigation, and prosecutors will decide whether to formally press charges.
According to the SEC, Bitkub suffered a cyberattack in May 2021, resulting in the theft of 16 types of digital assets, with losses exceeding $50 million. Regulatory investigations revealed that Bitkub did not reflect the relevant losses in the Form DA 1 daily net capital reports for the period from May 10 to October 30, 2021.
The SEC stated that the executives involved allegedly made false entries in official company documents, leading regulators to believe that client assets were intact and that the company had not suffered financial losses. Bitkub subsequently completed the acquisition of replacement assets in late October 2021, but the SEC considers that the reports submitted during that period constituted false statements.
In a statement released on July 23, Bitkub said that current client holdings are secure and accounts are accurate. Bitkub claimed that its co-founders purchased replacement assets of the same quantity and type to cover the losses, and noted that the cyber theft incident had been reported to law enforcement authorities on May 10, 2021.
According to the SEC, Bitkub suffered a cyberattack in May 2021, resulting in the theft of 16 types of digital assets, with losses exceeding $50 million. Regulatory investigations revealed that Bitkub did not reflect the relevant losses in the Form DA 1 daily net capital reports for the period from May 10 to October 30, 2021.
The SEC stated that the executives involved allegedly made false entries in official company documents, leading regulators to believe that client assets were intact and that the company had not suffered financial losses. Bitkub subsequently completed the acquisition of replacement assets in late October 2021, but the SEC considers that the reports submitted during that period constituted false statements.
In a statement released on July 23, Bitkub said that current client holdings are secure and accounts are accurate. Bitkub claimed that its co-founders purchased replacement assets of the same quantity and type to cover the losses, and noted that the cyber theft incident had been reported to law enforcement authorities on May 10, 2021.
推薦文章
