Overview
- Thailand’s SEC lodged a criminal complaint around July 23, 2026 and sent the case to the Economic Crime Suppression Division, naming Bitkub Online and former directors Sakolkorn Sakavee and Thaweesap Rawan.
- The regulator says daily net liquid capital reports filed between May 10 and October 30, 2021 did not show losses from a May 2021 cyberattack that stole 16 tokens worth about 1.7 billion baht.
- Bitkub says it delayed public disclosure to avoid a bank run, that co‑founders replaced the stolen assets by October 31, 2021, no customers lost funds, and the company has since upgraded security and compliance.
- The complaint assigns personal liability to two former executives, raises legal and reputational risk for Bitkub, and could deter underwriters and partners conducting due diligence ahead of any IPO.
- The action follows earlier enforcement and a failed acquisition offer and fits a broader tightening of Thailand’s crypto rules, so observers should watch the ECD probe, potential prosecutions, and effects on user access and market confidence.