Thailand's SEC Files Criminal Complaint Against Bitkub Over Undisclosed $47M Hack
Thailand’s SEC has filed a criminal complaint against crypto exchange Bitkub and two former directors over alleged false reporting after a 2021 hack. The regulator says the exchange lost 16 digital assets worth about 1.7 billion baht ($47 million) but later submitted filings that concealed the loss and misled regulators about its financial position. The case has been sent to police and prosecutors. Bitkub says the issue relates to an old reporting decision and insists customer funds were protected because founders replaced the stolen assets with their own money. In a video statement, former director Sakolkorn Sakavee said he alone altered the filings, hid the hack to avoid panic withdrawals, apologized, resigned, and promised to cooperate. The case comes as Bitkub seeks a public listing and faces stronger competition from Binance TH.
