Overview
- Thailand's Securities and Exchange Commission has lodged a criminal complaint with the Economic Crime Suppression Division accusing Bitkub and two former directors of filing daily net‑capital reports that hid the effect of a May 2021 theft of about 1.7 billion baht.
- The complaint names former directors Sakolkorn Sakavee and Thaweesap Rawan and alleges they made false entries and statements to deceive the regulator.
- One former director, Sakolkorn Sakavee, has publicly said he altered the filings, apologized, resigned from the company boards, and will cooperate with investigators.
- Bitkub says its co‑founders bought replacement digital assets so customers were not harmed and that customer balances were intact by late 2021, but the SEC treats replacement of assets as separate from accurate reporting.
- The case now moves to police and prosecutors for possible charges and could affect Bitkub's reputation, underwriter due diligence and any future listing plans plus wider regulatory scrutiny of crypto exchanges in Thailand.